FX_Academy

GXChain (GXS/BTC) interacting with baseline support

BINANCE:GXSBTC   None
The price of GXS is currently interacting with baseline support line and is below 0.236 Fibonacci retracement level. However, I believe that this will close as a wick and that this baseline support line is going to hold, as it did in the past. I have labeled a bullish scenario which is my primary - in this scenario the price action leaves a wick as it did in the past and breakout from the triangle from the upside; and a bearish which is my secondary - in which the price doesn't go back up, but rather continues down further to the next support.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.