POLONIEX:BCNBTC   Bytecoin / Bitcoin
Let's look at the daily chart of BCNBTC and try to understand how we should trade this pair. We have to note that the market is in an up trend but presently we can see a correction wave. It's confirmed by price movement between the resistance and the support levels and DMI indicator. It will be correctly to wait for a new impulse wave and only after that join the up trend. We should open long trades only if price breaks the 1st resistance level and ADX line rises above 20 level. MACD will have to support this up movement. Profit target for long trades must be at the 2nd resistance level . If price breaks the support level and MA50, we'll see down movement to MA100 (yellow line). If the market bounces from MA100, it will be a new long opportunity with profit targets at the resistance levels.

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Any update on this? Thanks
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Humm dead coin like dogecoin ?


We feel them desperate in their twit.
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do you think bcn is good buy now or it can be down to 34 sat
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then its target will be 250
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if its cross 167 or 170 will be rocket
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yes its possible to 150 also target making M to going to 45 to 75
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An interesting ranging market on this one, thanks for this insight Dima.

Regarding the 2nd resistance level I am in strong accordance considering current state on crypto and if market remains at similar volatility levels.
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is it good to buy @111 ?
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@Monged, you have to buy only after getting reversal. But now we don't have a such trading signal.
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@Monged, my dear if its cross 103 dont buy untill touch the bottom but if dont cross 104 ok signal for buy and targat is 142 to 137
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