Short term trend could be changing from bearish to bullish. Further down, support comes in at the 1.
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On this chart there is a number of levels to watch. But prior to the correction, consolidation could take place. Short term trend could be changing from bearish to bullish. On the chart there are multiple resistance levels to watch. Volume has also went up substantially and it seem that the upside momentum will continue.
Price has already broke above the descending channel and should be heading north towards one of the Fibonacci retracement levels. QSP has broke the downtrend trendline and could be ready to rally. But first it has to break the current resistance, then growth towards one of the Fibs levels should be expected. Funfair uptrend at this could take a break as the moving average has been rejected. But overall, the price is likely to go higher after a short term consolidation.
The confirmation of the uptrend could be the break above the Moving Average. The Odyssey token - ICN, has been one of the best performance in the recent market. In addition, downtrend trendline has been On 12th of Semptember, HempCoin has formed the low, hitting satoshis.
Since then price has been steadily rising and broke above the downtrend trnedline as well as the Moving Average at the same time. This is the first indication of a potential trend reversal and price is likely to continue moving higher. Currently bitcoin has stuck between the support and resistance, which might result in the short term consolidation between those two levels. Wait for the breakout to take action.
Since the beginning of March, Bitcoin has formed a descending triangle pattern, where each new wave down becomes smaller and takes longer. Bitcoin has rejected the Fibonacci support level multiple times which could indicate on the upcoming wave up. This is just a speculative view on the long term Bitcoin price development.
This forex pair represents the British Pound - Canadian Dollar cross. This Sterling 'base currency' is one of the heaviest traded pairs in the world. The Loonie 'counter currency' is typically considered a commodity currency due to Canada's reliance on energy exports for growth.
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