Heres a fun fact, BiKi Exchange is the very first Exchange where BXTB was officially listed! BTXB was borne from the online gaming/betting industry, and their the plan for world domination is to move towards a mass adoption of their online betting token CHIP.
The betting volume of the online industry is soon to surpass the trillion-dollar mark and according to Forbes, the gaming industry alone has been growing at staggering annual rates as well.
Another unique point about BXTB is that it is the first ever token to use a Proof of Capacity for its mining algorithm. With no ICO or public token sales, its safe to say there is a much lower probability of the infamous ‘Pump n Dumps’ to keep you up at night, since the tokens are distributed rather evenly across the miners.
Great investment opportunity??
The actual token that is to be used and circulated in the online gaming is called CHIP, and it is automatically produced through smart contracts when 1 USDT is deposited and an accompanying BXTB is staked.
According to a satisfied investor:
“The project is currently still in its pre-rolling phase and they offer an extremely attractive Pre-Rolling Campaign for you to earn royalties through the amount of CHIP tokens you own. Within this limited period, they are offering a 0.25% royalty for each CHIP you own. To put this in perspective, a 1,000USDT investment gives you an modest return of $2USDT PER DAY!”
Let us zoom in onto the daily chart to look for opportunities, we can observe that:
- The price is still respecting and well below the active bearish trend-line drawn above.
- Price has successfully broken through a visible resistance-turned-support zone and is making lower lows ever since, indicating to us that the bearish momentum is currently still going strong.
- There was a retest and rejection off the zone which coincides with the 50% Fibonacci retracement level.
- The gap between 17 & 50 EMAs are widening.
Looking at the H4 chart, you can understand why I drew the Fibonacci levels in the manner I did in the Daily chart, as it was where the bearish impulse leg began. Always use lower time-frame for entries, DO NOT enter based on daily chart as it would greatly affect your risk:reward ratio.
Here’s a pro-tip for entry points for those of you who have followed through with this article so far…;)
Pro-tip: Switch to line-chart, look out for a specific level where the price action ‘kinks’ (struggled to break), before eventually breaking it and in this case, becomes a minor support-turned-resistance.
- Using the trick once again within the upcoming support zone, I can find a minor level at around 0.032 as well.
- This will be the target if you were to take a short trade since that particular level coincides with the -27.2 Fibonacci extension level.
With proper risk management and execution, this token can provide us with modest returns.
- Based on the technical analysis, the current short-term opportunities lies towards shorting of BXTB.
- Once the price hits the profit target, look out closely for signs of reversal with your own analysis…or you know, just stay tuned to my postings;)
- BXTB has potential for substantial growth in the long run, so buying it at its discounted price makes it an ideal investment for HODLers.
Disclaimer: The above does not constitute as investment advice. Do note that trading cryptocurrencies (or any other financial market) involves substantial risk, and there will be a potential for loss. Your trading results may vary. Please practice the proper risk management to avoid risks of approaching account zeroing and liquidation.