BNT: Losing Steam or Pushing Through Long Term Resistance?Charts like BNT's current chart are tough for me to gauge because I do not use fundamental indicators like RSI. However, I see the trend continuing and will look to buy in once BNT has broken through long term resistance (as shown with the red line and green circle on the right side of the chart. This will be a great one to monitor going forward. Tell me your thoughts!
Looks like buy levels are in flux and former Fib level support are acting as resistance. The 7 day moving averaged topped off and went below both of the long term and short term Fib levels. In the past, this has been an indication of very strong downwards resistance. I think this guy needs time to deflate before moving higher. Therefore, I will follow the low lying trend line I drew on my last Bancor chart. The buy in opportunity will most likely be where long term support break long term resistance, rather than this brief pump.
Last Bancor chart:
Hold fast since this guy will come up again, few weeks max. If you bought at the top it might be wise to sell here and then buy again when the trend breaks long term downwards resistance. I will be looking for better short term trades at this particular time and am pulling bitcon off of bid orders.
