Bluzelle found the bottom at 3300 satoshis and started the uptrend while continued to move within the ascending channel. But recently price broke above the channel and on the corrective wave down rejected the upper trendline of the channel as well as the 50 Moving Average, suggesting the continuation of the uptrend.
The very strong resistance is seen at 14400 satoshis, which is confirmed by two Fibonacci retracement levels, 727.2% and 1127.2%. If/when this target is reached, the value of Bluzelle should double against the Bitcoin, since currently it is trading at 7250 satoshis.
On the downside, the correction down is possible and price could get back to the 5k satoshis support. Also BLZ/BTC could consolidate for a some time before moving higher. All-in-all it seems that there is an established uptrend with a high probability of a growth continuation.
The very strong resistance is seen at 14400 satoshis, which is confirmed by two Fibonacci retracement levels, 727.2% and 1127.2%. If/when this target is reached, the value of Bluzelle should double against the Bitcoin, since currently it is trading at 7250 satoshis.
On the downside, the correction down is possible and price could get back to the 5k satoshis support. Also BLZ/BTC could consolidate for a some time before moving higher. All-in-all it seems that there is an established uptrend with a high probability of a growth continuation.
Comment:
consolidation seem to be ending, uptrend should now continue