Following the previous idea on Pivx, it has reached the downside target and went lower. Although afterwards, price corrected up and reached the resistance at 87k satoshi. The resistance has been rejected, suggesting that PIVX has no strength against the Bitcoin.
PIVX/BTC is likely to go down yet again to test the 61.8% Fibonacci retracement at 52k satoshi. This level should play a key role in further price action, where the break below could lead to further weakness, but rejection could prove that Pivx might explore new highs.
At this point, Pivx is still weak and the only break above 100k satoshi could prove otherwise.
PIVX/BTC is likely to go down yet again to test the 61.8% Fibonacci retracement at 52k satoshi. This level should play a key role in further price action, where the break below could lead to further weakness, but rejection could prove that Pivx might explore new highs.
At this point, Pivx is still weak and the only break above 100k satoshi could prove otherwise.
Trade closed: target reached:
Pivx might continue the uptrend
Comment:
