Cryptocurrency
by Seth Parker on September 6, 2018

Bitcoin Diamond Analysis – Man down

We had the one and only Bitcoin, so now time for the little brother – Bitcoin Diamond. As it very often happens, BTC had a small cough and BCD got the flu. Yesterday, we started the day around the 11 USD. At the end of the day, Bitcoin Diamond costed 2.8 USD. Speechless. Before going a little deeper in this situation, let us check our previous piece about this instrument:

“Currently, the short-term sentiment is positive but as long, as we stay below the 18 USD, the long-term scenario is still negative. „

bitcoin diamond chart

That was written on the 17th of August, when the price was slightly above the 10 USD and I have to admit that it was one of the best piece of advice that we had on this portal. After that, the price entered the bullish correction mode (blue wedge), which finished yesterday! And finished with a drop, so the negative scenario was played here.

Currently, BCD is one of the biggest losers. Situation is dramatic and if you like your money, it would be the best to avoid this instrument.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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