BITQUENCE (BQX/BTC) - REVERSAL TRADE
= ELEMONT FX =
Analysis:
- Bitquence has found support (between 61.8% - 78.6% fibs) after a previous breakout
- Reversal trade using fibs as resistance levels
- We expect price to retest key points of its breakout and then either confirm a continuation higher or lower
- If price closes below support, we expect further short-term downside
Reversal Targets
1. 43,600
2. 45,000
3. 47,250
4. 49,500
Analysis:
- Bitquence has found support (between 61.8% - 78.6% fibs) after a previous breakout
- Reversal trade using fibs as resistance levels
- We expect price to retest key points of its breakout and then either confirm a continuation higher or lower
- If price closes below support, we expect further short-term downside
Reversal Targets
1. 43,600
2. 45,000
3. 47,250
4. 49,500
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