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.
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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.
Great article! Check my blog to read my new post about cryptocurrencies!
Interesting article with good insight.
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 ???
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!
Muchas gracias por compartir tus análisis, son muy utiles
I'm thinking about adding this to my portfolio within the next 10 days. Chinese new years is ending soon! Get in before it goes back up.
great contribution, always with accurate analysis
muchas gracias amigo agradecido excelente post
Thanks a lot for your hard work
I'm amazed BCN is worth over a billion dollars, considering its history. It was the only coin confirmed to have been exploited by the cryptonote bug, which resulted in the arbitrary creation of at least 63 million BCN.
Also, the fact that based on the findings of the Monero devs upon forking the codebase, the miner released by the BCN devs appeared to have been deliberately crippled. Presumably this was done to give the founders a massive competitive edge in mining, suggesting that BCN's coin distribution is rigged to enrich its founders.
how do u think of PM7 coin? so many ppl are talking abt this. http://pm7.pm/ico/21dd65f2
i invest in Bytecoin, when the price is to much low.
It can be hard to find better risk/reward than wedges, pennants, and flags. Thanks for pointing some out on a timely basis. As you know it's not about being right, it's about taking a series of favorable risk/reward trades.
Todavía es un buen momento de invertir, todavía las criptomonedas. no se han disparado al alza, pero esperamos que pronto lo hagan, mucho éxito.
No entiendo cual es la maldad de todo esto, no se por que 14 votos negativos, no solo a mi si no a todos lo que comentaron esta publicación, no les deseo mal por mal, les deseo mas bien hecho, pero no lo hagan nuevamente.
Thank you Heajin
Aside from the usual research, what I look to now if contemplating getting into a new currency is time. I've already studied to death and chosen my long term holds, and they're well in place. Now for the little 20% of my portfolio I can have some fun with, I want not to get stuck in a long term hold. I fear that for BCN and thus will rule it out. Thanks for the analysis.
Haejin can you please take a look at APPCoins?
I beleive it's close to entering wave 3 upwards after a loooong ABC correction and subsequent wave 1 and 2.
Please take a look, project looks fantastic and professional!
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Mined a lot of bytecoin