BCN (Bytecoin). 1 target wedge + 50%. Rounded bottom + 371%BCN (Bytecoin) A rounded bottom is formed. We are now in the 2nd phase of the formation of this global, long-forming figure.
In the second phase, trading volumes are at a minimum. The coin is not interesting to anyone, "faith is killed," the price is at a historic low, the dump is over. The second phase of the formation of this figure differs in equalizing prices after the dump and a decrease in trading volume.
In most cases, such long-forming formations as a rounded bottom become turning figures of trends. But this does not always happen. Therefore, it is very important that this is the correct entry and exit point in case the price goes against you. It’s better to buy a little more expensive, but it’s already in the birth of an uptrend, than to buy at the bottom and get stuck with this coin.
Volatility also decreased; at the local level, the coin formed a small downward wedge. The purpose of this wedge + 50% This will be the first target. Here is the penetration of this wedge and it will be possible to move to the 3rd phase of the formation of the figure "Round bottom". And the beginning of an uptrend. The maximum target for the “Rounded bottom” figure (Saucer, Cup) is the resistance of this formation + 371%.
If the price breaks through the resistance of the figure of the cup and fixes above it , thereby confirming the reversal of the global trend, the next target is the height to the depth of the cup, the same 370%. And this is more than + 700% of current prices.
Let me remind you BCN (Bytecoin) is an old coin for pumping. Pumps in the past were hundreds of percent and repeatedly.
Monero Top Coin Monero (XMR) is a fork of this coin! Probably few people know about this, as it was a very long time ....
Target:
1) + 50% (fast trading).
2) + 171%
3) + 271%
4) +700%
1) Entrance on a wedge breakout or rollback after a breakthrough if short-term trading.
2) Entrance at the beginning of the 3rd phase of the formation of the "Cup" figure when confirming a local uptrend.
Stop Loos - under the support level of the foundation of this formation, set the Stop Loos value with the calculation of your trading strategy and money management.
Remember that on such coins, due to weak liquidity, ballast is easily reset before a market turn. So your Stop Loos may be among this ballast. What matters is not the Stop Loos value, but the entry point!
