BlackCoin VS Bitcoin Upcoming Wave
Updated
BlackCoin rejected the 227.2% Fibonacci support applied to the corrective wave after the 200 Moving Average was broken. After bouncing off the 1.9k satoshi support, today it went above the minor resistance at 2.5k satoshi and very likely to continue the correctional move up.
First resistance is at 61.8% Fibs retracement level, that is 5.7k satoshi. Break above that resistance should result in more growth towards the previously formed resistance around 8k satoshi area. Break above that resistance could establish a longer-term uptrend, but it yet to be seen how BLK/BTC will react to these obstacles. A daily close below 19k satoshi could invalidate bullish outlook and send BlackCoin slightly lower.
First resistance is at 61.8% Fibs retracement level, that is 5.7k satoshi. Break above that resistance should result in more growth towards the previously formed resistance around 8k satoshi area. Break above that resistance could establish a longer-term uptrend, but it yet to be seen how BLK/BTC will react to these obstacles. A daily close below 19k satoshi could invalidate bullish outlook and send BlackCoin slightly lower.
Note
Getting close to first targetTrade closed: target reached
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