✴️ Bifrost 700% Potential Or 1900% (Name Your Altcoin)

17. Okt. 2023

Let me start by saying that things can change.

We are looking at Bifrost (BNCUSDT) at the request of one of our readers.
It is truly my pleasure.

Let's dive in.

1) A bearish trend comes to an end.
We say this based on the long-term broken downtrend line.

Since the downtrend is over, this immediately puts us out of the bearish scenario, we have to consider something else.

2) A bullish breakout.
The initial bullish breakout confirms the end of the bearish trend.

3) Correction + consolidation.
The correction deletes part of the bullish growth. This is not a bearish impulse nor a new bearish move because the bearish trend is over.

Notice how low the volume is when the consolidation phase starts.
So, a correction of the bullish wave.
A consolidation phase before a continuation.

But... Things can always change.

4) A new bullish move.
Since we are consolidating a bullish breakout, what follows is a new bullish move.

This is in theory.

This analysis remains valid above the November 2022 low.

Bifrost is set for sustained, long-term growth, based on the chart.

Namaste.