Bytecoin (BCN/BTC): Is a Breakout in Progress?
SUMMARY
ByteCoin (BCN/BTC) had been basing from May to December of 2017. A real, long correction! Recently, it rose in a clear impulse set of five waves. A correction is required and so is in progress as shown in below chart. As price has breached the upper line of the bull flag looking pattern, the key question is whether this is a breakout or not? Yes, price can continue going sideways; but if the MACD turns up, the breakout gets more support.
IF this is a breakout, confirmation could be seen as an impulse set (blue waves). For this, a smaller higher would be required to confirm the onset of blue wave 3.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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No breakout here. Everyone's getting beat down today.
Would have to pass previous high to confirm a wave 3 breakout.
Thanks for the insight. I've been holding about 7000 BCN
Ive been mining bytecoin but learned a little history about the premine of it and starting to consider monero instead.
I'm mining both right now.
Interesting article with good insight.
Great article! Check my blog to read my new post about cryptocurrencies!
watching bytecoin my self. I have been trying to decide whether or not to invest.
happy because of clean comment window
@haejin yes you are right but what can we do for this situation ???
on more thing copy.Haejin never use macd from last 5 months. @salahuddin2004 using macd frequently in his analysis.From last 6 days haejin using macd frequently because he understand people are aware day by day about his shit one indicator elliot waves.And now he start to copy TA and indicators. what a mention you all from last 3 days.
check haejin timeline he mention eos going to $3 before 3 days ago now statement change.Now haejin out of situtaion believing bullish market to give buy calls again.Look out my comment.
Stay long and you willl downvoted by this crap if you speak truth.See my rating he downvoted me because i speak truth.39 TA for bitcoin all failed in last 4 days.EOS and Ethereum TA fail.Steal 2 TA FROM expert @salahuddin2004 . @salahuddin2004 give a buy signal on bitcoin at 10 k and this crap 39 TA. Eos Haejin gave sell signal with target 3. @salahuddin2004 give a buy signal at 9. TrUst this crap and get downvoted when you speak truth about him.
Before you speak about Haejin, you need to learn how to analyze charts. Because one day of a read can completely change from the very next day. You nor me nor Haejin can control human emotion and real world events. Nothing is guaranteed, but at least Haejin gives up a professional insite on intelligent charting. And he's been more right then wrong.
i agree with you you are right
I'm actually a hodler, I'm waiting for it to boom before selling. If it continues to go sideways I am happy to HODL for years!