Golem Remains At The Support

POLONIEX:GNTBTC   Golem / Bitcoin
Following the previous idea on Golem, it has reached support at 4k satoshi, and currently still presents the buying opportunity for the medium to long-term.

The 4k support level has previously been rejected multiple times while first acting as a resistance and then the support. Yet again price rejected the 4k level on the 2nd of February and continues to trade around it for the last three days.

The 8/1 Gann Fan trendline is very close and should act as additional confirmation of the support. GNT / BTC could remain near the support level for another week and produce spikes lower than the support level , nevertheless, the trend looks bearish and soon than later price is expected to rise.

The first major resistance is at 8k satoshi, second is at 11k and third is at 13k . On the downside, only break and close below 1.5k support could invalidate long-term bullish outlook.


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