Red zones are heavy support zones. Green zones are next legs up and resistance areas. We want to see price discovery in the blue zone. After a relatively bloody day for mostly all of the crypto realm on Friday 1/8/21 we are seeing CVC gather itself into a consolidation pattern. Positives is that CVC really didn’t fall to far down from its recent high showing...
CVC/BTC
-Civic is starting to break the trendline resistance
-This is a Bullish sign in the mid-term
-The price is also trading above the 200D MA
-The local support is located around 320 sat
-This is an important level to hold for the following week
-If we want to see a strong upside continuation
-300 sat level must hold and see follow-through
-Upside scenario is...
CVC/BTC
CVC is quite looking bullish on this falling channel pattern. The RSI is painting strong bullish momentum and we have 2 consecutive bullish candles today.
If the price can't break above this trend-line resistance, I'm seeing a potential minor pullback to key support area and attempt to retest the previous High or change the daily trend.
