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Band

Quick Band Analysis on the 12HHere is as simple interpretation of Bands current state and what I am watching for before I take a position. As you can see Band has previously respected descending trendlines pretty well. Currently it stuck behind one and needs to brake out in order to reverse its current downtrend. But now you can see its not only stuck behind a descending trendline but also has fallen through a pretty important support around the $5 mark which is now resistance. If Band manages to break out of the descending trendline it will also has to overcome what is now the $5 resistance before I take a long position. If Band breaks out of the descending trendline I will consider it a bearish retest until it has reclaimed the $5 support line. I have drawn a couple examples of that above. Sorry I did not set any price predications either way just sharing my perspective.
BINANCE:BANDUSD
by PumptyMcDumpty
BAND Offers Multiple Opportunities for a 45% ProfitBAND experienced a tremendous 7,500% growth this year. Following the massive growth, the token experienced a 65% correction starting in September. However, the downward pressure slowed down, and we are now in a consolidation phase. The Opportunities BAND was previously caught in a descending channel on the 4h chart. On the 24th of September, the token broke this channel and entered a consolidation phase. When an asset consolidates, it is usually stable and moves a few percentages at most. BAND, however, is a different beast. Even in its consolidation period, BAND still has a 45% margin from top to bottom, meaning that if you buy at the bottom of the range and sell at the top, you stand to gain 45%. Catching the whole trend is almost impossible. However, even by cashing in half of it, you stand to gain over 20% profit. Taking Advantage of the Opportunities There are different ways to take advantage of this consolidation period. The most basic approach is by trading based on support and resistance. The lower range stands around $5, while the upper range is around 7.5$. However, the token doesn’t always reach the bottom or the top, and it usually ranges around the middle. Therefore buying BAND at 6$ and selling at 7$ ensures a decent profit margin with a healthy amount of trading opportunities. Another way of taking advantage of these opportunities is through the use of technical indicators. Momentum indicators are best suited for ranging periods. Some of the most commonly used momentum indicators include: the Stochastics, RSI, Williams %R, and the MACD.
by cryptohopper
1
Bearish formation apparent - watch out for THIS level of support*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. You should always do your own due diligence before trading or investing. *Follow me for the latest cryptocurrency analyses on my watchlist *Thank you to those who donated, I very much appreciate it. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too.
CRYPTOCAP:BTC.DShort
by CryptoRush_
1