Technical analysis Bytecoin. BCN-BTC on July 26, 2018

July 26, 2018


On 1 day timeframe, we can see a good correction pullback. Stoch RSI is too oversold and has a good chance to bounce, RSI it bouncing from the oversold area and goes up, but the price continues to fall that forms the bullish divergence, which will push the market up. On the middle timeframes, we can see the downtrend wedge that also raises the possibility of the further growth. Now the price is at the bottom edge of the pattern near the strong support area, from which we can see good chances to bounce. The breakout of the upper edge wil give the regular possibility to go higher, but if the market doesn’t break the resitance, most probably it will test the support at 34 and if the market pressure is stonng it can go to 30.

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