Bytecoin BCN Short-term price analysis

Bytecoin BCN Short-term price analysis

Bytecoin has a bearish short-term outlook, with the price still capped below the BCN / USD pair’s 200-period moving average on the four-hour time frame
The 4 hour trade time frame shows that price is still trapped within a falling price channel
A daily trading time frame shows a bearish double-top pattern formation weighing on the cryptocurrency. "Bytecoin BCN Short-term price analysis"

Bytecoin BCN Short-term price analysis

Bytecoin BCN has a bearish short-term trading bias, with the BCN / USD pair still trading below its 200-period moving average on the four-hour time frame.

The four-hour time frame is showing that the BCN / USD pair is attempting to recover bullish momentum and attempting to break away from a falling price channel.

Technical indicators on the four-hour time frame are bullish and continue to issue strong buy signals.

Traders should note that falling price channels are typically considered bullish reversal patterns.

Relative Strength Index


The RSI indicator has turned bullish on the four-hour time frame and is now issuing a buy signal.


MACD Indicator


The MACD indicator is bullish on the four-hour time frame and continues to issue a strong buy signal.

Bytecoin remains technically bearish across both time frames despite the recent solid rebound in the emerging cryptocurrency.

Bulls now need to break out from the falling price channel on the four-hour time frame and negate the bearish moving average crossover developing across the daily time frame.

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