Bullish Bitcoin Diamond: Double Falling Wedge

Bitcoin Diamond (BCD) Overview

Bitcoin Diamond (BCD) is a hard fork of Bitcoin. The fork occurring at block height 495866, implemented changes including a new proof of work algorithm to deter attacks on the network and segregation of transaction signatures from transactions on the chain for additional capacity allowing a greater number of transactions per second on the network as a whole.


Bitcoin Diamond (BCDBTC) Chart Analysis

We are looking at Bitcoin Diamond (BCDBTC) on the daily time frame, we have the bullish pattern called "Falling Wedge", let's take a look:

• We saw a falling wedge, drawn left, that produced an 85%+ breakout. Now we see a second falling wedge forming for Bitcoin Diamond which we believe can produce even more gains.
  
• This pattern is supported by bullish divergence on the MACD, marked with magenta arrows.
  
• We have the same divergence shown on the RSI. The bounce on late May might as well have been an accumulation move.
  
• Big bags are being accumulated by whales and big money all across the board... Something really big is coming.
  

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Commentaire:

Not much changed here...

BCDBTC can move into consolidation and go up, or another small drop and then jump...

The divergence has been extended and the setup is the same... This pair looks bottomed out.