FUN/BTC - Bullish flag broken, support to strong
Updated
FUN/BTC has been consolidate for a while as BTC/USD has gone down significantly in the first two weeks of the year. The retracement has taken around 4 days, exactly the time it took for the previous breakout; MACD and 30 EMA about to cross bullish and RSI and CCI are low; both supporting a bullish outcome in the next couple of days.
Fib50 and Fib38 seem to be strong support/resistance lines, with the latter supporting our flag. Please note all these forecasts are dependent on the BTC/USD movements, so keep monitoring!
Buy: market
Sell: +/- 1380 (potential profit +/- 25%)
Buy: +/- 1215
Sell: +/- 1400 (18%)
*Binance is a growing exchange that is user friendly and does not require documentation if you trade less than 2BTCs. As it has just been launched it has reduced the trading fees to 0.5% if you have a small number of their coin ( BNB 0.00% -0.35% -0.35% ) in your wallet. Registration is recommended and using my referral link is highly appreciated: binance.com/?ref=11955863
*You are the decision maker in your trading, I cannot be held responsible for your losses
Fib50 and Fib38 seem to be strong support/resistance lines, with the latter supporting our flag. Please note all these forecasts are dependent on the BTC/USD movements, so keep monitoring!
Buy: market
Sell: +/- 1380 (potential profit +/- 25%)
Buy: +/- 1215
Sell: +/- 1400 (18%)
*Binance is a growing exchange that is user friendly and does not require documentation if you trade less than 2BTCs. As it has just been launched it has reduced the trading fees to 0.5% if you have a small number of their coin ( BNB 0.00% -0.35% -0.35% ) in your wallet. Registration is recommended and using my referral link is highly appreciated: binance.com/?ref=11955863
*You are the decision maker in your trading, I cannot be held responsible for your losses
Note
FUN/BTC experiences resistance at the 30 EMA at the moment, once the price breaks through it might shoot up fast.Note
More consolidation coming. We will need more data to see when the next move will be!
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