DigitalNote Double Bottom Formation
The Fibonacci support has been rejected twice cleanly after which price went up and broke above the 50 moving Average and the at the same time. On the corrective wave down, XDN / BTC has rejected the upper of the and went up once again.
It seems that the 50 Moving Average is currently acing as the support and from this point onward XDN might start moving higher. The strong resistance is seen at 38.2% that is $0.01 strong psychological level. Break above it could confirm the formation for the long term, while rejection is likely to result in a strong wave down.
On a downside, break and close below the $0.005 support will invalidate short or long term scenario and could send price to new lows.