Bcpg
BCPG | Inverted Head & Shoulders Pattern breakout trading setup Price action and chart pattern trading setup
> Inverted Head & Shoulders pattern in TF1H breakout
> Pullback trade recommended after retesting H&S neckline
> Target just below SMA200 or previous high
Indicator: TF4H
> Bullish RSI crossing 50 and above MA line
> MACD golden cross signal line
Risk ratio: 1.8:1
Always trade with affordable risk and respect your stoploss
BCPG (TH) - ELLIOT WAVE ANALYSIS- Expecting price to reverse and go up for the white wave (c) of the red wave B.
BCPG is going downBCPG is currently in the weak momentum for both TF day and TF week.
The idea is to Short when it's Breakdown the yellow line.
the first target price is at the Blue line
Cutloss when it goes againt Short at 15.40
Time to turn on the POWER!With the current state of cryptoland, this coin should get a decent pump!
Fundamentally solid, and with a sligly undervalued marketcap I believe.
Fundamental
So yesterday we got some good news from PowerLedger.
Thai-Government backed BCPG agreement!
That's substansial and should increase the hype. It's a new coin, and there is a lot of speculation money flying around now. That's what I think could equal increasing demand for the short term.
POWR is a little difficult to fundamentally judge. It's very techie.
However, I like the team and it definetly looks like they are doing a lot of work and have some important connections.
That's enough for me to invest for the short-mid term. I see a good risk/reward ratio.
But I would recommend small percentage of portfolio.
Technical
You may know that I don't like to draw on BTC parings. If there is no USD pair I tend to go much more on the fundamentals.
However, I have added on some fib levels to where I think we could face some resistance. And the pitchfork is always nice to follow for support levels.
My target for this trade is around 16900 SAT.
I have added it to my Portfolio-Spreadsheet .
Where you can follow what changes I make in my hodlings.
