Time to Byte in? Bytecoin/BTC
ALWAYS LOOK AT COINS IN RELATION TO BTC . NEVER TRUST SOMEONE WHO DOESN'T LOOK AT THE RELATIONSHIP TO BTC.
THE CHART IS INTENDED TO BE ZOOMED IN ON TO SEE CERTAIN POINTS. PLEASE DON'T KILL YOUR EYES LOOKING AT THE SPECIFICS OF THE ZOOMED OUT VERSION.
See what BTC might do before thinking about buying any Crypto. I believe in trading when BTC looks good to bounce (continue/end current trend)and using BTCas the base-point for buying into and out of alts. Coins may trade on their own TA, but more than not their TA will be effected by BTC. Due to the severity of the big trends possibly ending.
Ok, so a decent amount of info to see. At the current time, Bytecoin seems pretty bad to me.
So from the top of this trend we see:
.75 bounce, .618-.75 bounce, support below .5 pushing back over and holding at .5, from that .5 to .75 and then back to .5. Then an extension to about .9 and then a series of attempts to stay above the .75. My thinking is: where does the steam come from now?
It matters not if BTC does well, but for me to want to buy into this almost without thinking, I would like to see BTC near my levels (6.9k) and Btyecoin around the .25.
We can see that the upwards trend was broken several days ago, but we have found support on the .618. I think this may be some of those people hoping BTC goes up and are buying into it now.
The movement hasn't been horrible, but neither has BTC's movement.
Tl:dr : I want to see Btc hit 6.8k-6.9k and Btyecoin to hit the .25 to feel definite.
THE CHART IS INTENDED TO BE ZOOMED IN ON TO SEE CERTAIN POINTS. PLEASE DON'T KILL YOUR EYES LOOKING AT THE SPECIFICS OF THE ZOOMED OUT VERSION.
See what BTC might do before thinking about buying any Crypto. I believe in trading when BTC looks good to bounce (continue/end current trend)and using BTCas the base-point for buying into and out of alts. Coins may trade on their own TA, but more than not their TA will be effected by BTC. Due to the severity of the big trends possibly ending.
Ok, so a decent amount of info to see. At the current time, Bytecoin seems pretty bad to me.
So from the top of this trend we see:
.75 bounce, .618-.75 bounce, support below .5 pushing back over and holding at .5, from that .5 to .75 and then back to .5. Then an extension to about .9 and then a series of attempts to stay above the .75. My thinking is: where does the steam come from now?
It matters not if BTC does well, but for me to want to buy into this almost without thinking, I would like to see BTC near my levels (6.9k) and Btyecoin around the .25.
We can see that the upwards trend was broken several days ago, but we have found support on the .618. I think this may be some of those people hoping BTC goes up and are buying into it now.
The movement hasn't been horrible, but neither has BTC's movement.
Tl:dr : I want to see Btc hit 6.8k-6.9k and Btyecoin to hit the .25 to feel definite.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.