Poloniex : BCY moving for the floor price

23 апр. 2017 г.

After it's huge spike of the price near the end of 2016, from the start of 2017, BCY started moving side ways, a move that was expected after a huge pump and dump of the price. The chance for this currency to break above it's current resistance and have another pump in near few months, is not that big. So, the best move we can predict for this currency is for it to go back and hit the support line at the bottom of it's horizontal tunnel and move toward the resistance line once more. only after that move we can hope for another rise above the current top price resistance line.
Right now the price slowed it's dropping pace simply because we are sitting right on top of a small support zone but there is little chance that this support zone can hold up for too long.