FIb retracement 50% level is a crucial support and the trend channel and internal trend lines too. As far as BTCST maintains these supports it will go to $41. 50% retracement was retested again and again as a resistance but yesterday it broke this resistance and it is now an important support.
It looks healthy.
*NFA*
Fundamental:
As per latest news about bearish trends in gold, USD and oil, people will look to invest in another things such crypto currencies for the time being.
Technical:
I just look this time for 1D and 4h timeframes even that it was a rejection in LL which indicates the end of bearish trend in CURRENT timeframe (4h), also after checked pivot zones i saw that...
The next big move could be close for BTCST until it touches the $ $66- $ 72 levels. The RSI is calming down and in the meantime the price places us in a wide range on the daily chart.
An ABC pattern.
Wave C is on and I think the RSI will bounce when it reaches the trend line (54), which is necessary for this bounce.
I consider that the best buyback point would be...
BTCST in making of a nice curve
and at good support level
take long entries at 40-42
with the stop loss of 38
Target 1: 50
Target 2: 57
Long term : 90 & 140
Maximum Supply 15M
