OpenBlock

WhiteCoin VS Bitcoin Approaching Key Resistance

Long
BITTREX:XWCBTC   Whitecoin / Bitcoin
In the beginning of May, WhiteCoin has found the support at 88.6% Fibonacci retracement level, that is 635 satoshis. Since then XWC/ BTC has been going up exponentially and has already reached 2180 satoshis, providing a strong 250% gain over Bitcoin .

But how far can it go, and will it stop growing any time soon? Well, today WhiteCoin has broke above the 61.8% Fibs, that is 1980 satoshis and the nearest strong resistance is at 76.4% Fibs - 2370 satoshis. This level could be the key resistance of the XWC, which should potentially provide more insight on further price development.

While th 2370 satoshis target is expected to be reached very soon, the correctional move down first is also possible. The short term buying opportunities are there, but the key resistance must be watched closely.
Comment: Support Level 1: 1500
Support Level 2: 1100

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