NAVCoin VS Bitcoin Range Breakout

BITTREX:NAVBTC   Navcoin / Bitcoin
NAVCoin found the bottom at 11k satoshis after which range trading begun. NAV / BTC was moving between 11k support and 14.5k resistance for over a month. But on the 18th of April it finally broke above the range suggesting the beginning of an uptrend.

Just recently price rejected the uptrend trendline and currently finding the support at the previous level of resistance. The uptrend probability becomes high and price could jump as high as 28.5k satoshis, confirmed by two Fibonacci retracement levels.

On a downside, break and close below the 10k satoshis psycological support should invalidate bullish outlook and potential result in a downtrend continuation.