FOR NOW, the lines above are: Horizontal- support, resistance lines. Top Uptrend- short term uptrend we broke. Bottom Uptrend- long term uptrend line. Downtrend- the appears to be a new downtrend line to watch. ( The shorter the trend the less weight it holds.) The arrows are top, MA Cross line in chart.
The bottom is volume going down and RDI going down. Both are bearish and I won't go long until they change. We all know these things can pop hard and fast up or down but I am aiming the the lower FIB line of support to enter in the lower 7's. 0.0000719 looks good and is near the .786 fib line. Better yet would be the long term trend bounce just above .0000685. Seems like people are selling now and counting on that.
This analysis is descriptive, so I am just saying what has happened and what I will do. I have no idea when the bull rum for this will happen but I do think it moves great.
Descriptive Analytics, which use data aggregation and data mining to provide insight into the past and answer: “What has happened?”
If BCPT runs higher on volume and breaks out above fib line and wall of resistance above 8900 then the thesis changes and I buy and go for the ride with a TIGHT STOP LIMIT ORDER!
I resposted this after I looked over ENTIRE CHART AGAIN. Don't get lost in the short term!
The bottom is volume going down and RDI going down. Both are bearish and I won't go long until they change. We all know these things can pop hard and fast up or down but I am aiming the the lower FIB line of support to enter in the lower 7's. 0.0000719 looks good and is near the .786 fib line. Better yet would be the long term trend bounce just above .0000685. Seems like people are selling now and counting on that.
This analysis is descriptive, so I am just saying what has happened and what I will do. I have no idea when the bull rum for this will happen but I do think it moves great.
Descriptive Analytics, which use data aggregation and data mining to provide insight into the past and answer: “What has happened?”
If BCPT runs higher on volume and breaks out above fib line and wall of resistance above 8900 then the thesis changes and I buy and go for the ride with a TIGHT STOP LIMIT ORDER!
I resposted this after I looked over ENTIRE CHART AGAIN. Don't get lost in the short term!