Ionomy VS Bitcoin Support Rejected

BITTREX:IONBTC   Ion / Bitcoin
Ionomy started to show some strength against the Bitcoin after breaking above the 200 Moving Average and descending channel . Price went up from 9k satoshi up to 30k but then corrected down.

The correctional wave was stopped at 16k satoshi, where it rejected the upper trendline of the descending channel and 4/1 trendline of the Gann Fan . Although price could consolidate for a little longer the beginning of the larger correctional wave up is likely to take place.

The first upside target and key resistance is at 61.8% Fibonacci retracement level that is 43k satoshi. If ION/BTC manages to break above, this could mean the beginning of the uptrend. On the downside, only break below the 10k support could invalidate bullish outlook.
Comment: Ionomy had a small wave up making a new high, could start accelerating now
Comment: Ionomy looks pretty strong compared to others, uptrend should continue
Trade closed: target reached
crazy pump ;)
What are your new targets since it broke 43k sat? :)
HiTech cryptocoin1980
@cryptocoin1980, so far no target, as the resistance was rejected today! needs to break above
thanks for all your analysis so far,super easy & good to learn much of TA.
HiTech rapidbtc
@rapidbtc, pleasure :) all coins should start recovering now and soon we'll see a nice profit
which price buy in ? 0.000215-0.00023 ?
+1 Reply
@Klauzs, 18600 and 2200
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