OpenBlock

BlackCoin Has Proved It Worthy

Long
POLONIEX:BLKUSD   None
Following the previous idea on BlackCoin, it has proved it worthy, while it broke above the strong resistance area between $0.35-0.4 and went above our upside target that was at $0.95.

Currently, BLK /USD corrected back to the previous resistance area: $0.35-0.4 which has been rejected together with the 4/1 Gann Fan trendline. The uptrend is likely to continue, although it is questionable whether BlackCoin will manage to produce a new all-time high or will form a double top at $1.25 near the previous high, as this is where the first strong resistance is. Break above the $1.3 should confirm a long-term uptrend, while the break below the $0.36-0.44 support area could invalidate bullish outlook.
Comment: BlackCoin at the support

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