Bitcoin Next Step?
Current support is based at 64.2% Fibonacci retracement level,
that is $7980, and this level corresponds to the descending channel breakout point. Therefore it could be considered as a strong support which as of yet has been rejected.
Break and close above it might result in a short term uptrend where the strong resistance is seen at 50% Fibs applied through the all time high, that is $12880.While the Bitcoin stays above that support the wave up should follow and could send price up to $10 psychological resistance.
In the beginning of May, WhiteCoin has found the support at 88.6% Fibonacci retracement level, that is 635 satoshis. Since then XWC/BTC has been going up exponentially and has already reached 2180 satoshis, providing a strong 250% gain over Bitcoin.
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