Caution! This is not trade recommendation. This is just my view!!!
I'm long-term crypto investor. This time I'd like to add bytecoin(not bitcoin!) to my portfolio.
The reasons are on charts.
BCN weekly chart
[IMAGE: https://cdn.steemitimages.com/DQmUdvL9e5zw2WbMNgNk73P9XiHyrREP2JzRYhsP87fpaiB/BCN%20weekly.jpg]
BCN broke the resistance line after 2 week flat (yellow line).
Volumes are not so high, but today it's ok.
This is on the support line (red line)
BCN day chart
[IMAGE: https://cdn.steemitimages.com/DQmUzbAtvmM5fEuuGGda4kM6G5GMKgZqQeQX5fztucJ8LCN/BCN%20daily.jpg]
Downtrend is broken after price passes first target 0.004 (green line on day chart)
I don't use any indicator in my trade. My main tools are chart and time and sales tape. It's enough :)
This week i'm going to try to trade intra day. But first i need to do a little research about fees, trading volumes and and available traded currencies and other tools.