BICOUSD Massive pump but buy on the next pullback

28 thg 9, 2023

BICOUSD is having a strong push that naturally turned the 1D technical outlook overbought (RSI = 75.371, MACD = 0.002, ADX = 39.812). By doing so it hit the 1D MA200 for the first time in almost five months. We are not buying into this pump yet as the 1W MA50 looms (rejected the April 8th high) as well as the Resistance Zone. The 1D MACD is below 0, suggesting that there is still high upside potential, so we will buy after a rejection near 0.2500 and target the top of the Falling Wedge (TP = 0.3500).

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