BlackCoin Cryptocurrency Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Big movements in BlackCoin cryptocurrency price on Saturday moving 13.08% between high and low
(Updated on May 18, 2024)
The BlackCoin cryptocurrency price gained 11.97% on the last trading day (Saturday, 18th May 2024), rising from $0.0221 to $0.0248. During the last trading day the cryptocurrency fluctuated 13.08% from a day low at $0.0220 to a day high of $0.0249. The price has risen in 6 of the last 10 days and is up by 14.61% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately $30.76 .
The cryptocurrency lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the cryptocurrency is expected to rise 16.49% during the next 3 months and, with a 90% probability hold a price between $0.0218 and $0.0324 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BLKUSD Signals & Forecast
The BlackCoin cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0227 and $0.0211. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). BlackCoin has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -0.638%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for BlackCoin cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0218 and $0.0216. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, BlackCoin finds support just below today's level at $0.0218. If this is broken, then the next support from accumulated volume will be at $0.0216 and $0.0190.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0029 between high and low, or 13.08%. For the last week, the cryptocurrency has had daily average volatility of 7.24%.
Our recommended stop-loss: $0.0237 (-4.33%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 66 days ago.)
Trading Expectations (BLKUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect BlackCoin to open at $0.0239, and during the day (based on 14 day Average True Range), to move between $0.0233 and $0.0262, which gives a possible trading interval of +/-$0.0014 (+/-5.74%) up or down from last closing price. If BlackCoin takes out the full calculated possible swing range there will be an estimated 11.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0249 (0.64%) than the support at $0.0218 (11.97%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is BlackCoin cryptocurrency A Buy?
BlackCoin holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.175 Strong Buy Candidate Upgraded
Predicted Opening Price for BlackCoin of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.0239 ( 3.47%) | $0.0248 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLKUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0268 | 8.17 % | |
| R2 | 0.0257 | 3.73 % | ||
| R1 | 0.0250 | 0.98 % | ||
| Current price: | 0.0248 | |||
| Support | S1 | 0.0228 | -7.91 % | |
| S2 | 0.0221 | -10.66 % | ||
| S3 | 0.0210 | -15.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.0249 | 0.642 % | ||
| Current price | 0.0248 | |||
| Support | S1 | 0.0218 | -11.97% | |
| S2 | 0.0216 | -12.77% | ||
| S3 | 0.0190 | -23.13% |
FAQ
Click here for our free guide on how to buy BlackCoin Cryptocurrency.
