Vcash VS Bitcoin - Where Is The Bottom?
Updated
Vcash continues to slide down since it reached the high on the 15th of January. It has already lost 55% to the Bitcoin, but where is the bottom?
The Fibonacci applied to the corrective wave after the uptrend trendline breakout shows that 161.8% levels was broken and has been acting as a resistance, that was rejected twice.
As the trend remains bearish, the nearest downside target is seen at 261.8% Fibs, that is 3400 satoshis. Perhaps this could be a reversal point for Vcash, unless the support is broken, which could send price even lower.
The Fibonacci applied to the corrective wave after the uptrend trendline breakout shows that 161.8% levels was broken and has been acting as a resistance, that was rejected twice.
As the trend remains bearish, the nearest downside target is seen at 261.8% Fibs, that is 3400 satoshis. Perhaps this could be a reversal point for Vcash, unless the support is broken, which could send price even lower.
Trade closed: target reached
Note
Verge rejectdd the support
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