Yoyow coin has found the support at 88.6 Fibonacci retracement, that is 810 satoshis. The support was rejected cleanly, although price has formed a strong resistance at 1140 satoshis, that YOYO/BTC failed to break on multiple attempts.
However, while the support is holding there is a good probability of the potential corrective move up, but only if YOYO/BTC will managed to break and close above the 1140 satoshis resistance. When/if that happens, Yoyow could jump up towards 76.4% Fibonacci retracement at 2175 satoshis, where previously resistance was formed.
On a downside, if Yoyow continues to trade below 1140 satoshis resistance price could go down and perhaps below the 810 support, before correcting up.
However, while the support is holding there is a good probability of the potential corrective move up, but only if YOYO/BTC will managed to break and close above the 1140 satoshis resistance. When/if that happens, Yoyow could jump up towards 76.4% Fibonacci retracement at 2175 satoshis, where previously resistance was formed.
On a downside, if Yoyow continues to trade below 1140 satoshis resistance price could go down and perhaps below the 810 support, before correcting up.
Comment:
YOYO broke the resistance
Trade closed: target reached