Aeternity VS Bitcoin Rejecting Support
Updated
Aeternity has formed a double bottom at 1620 satoshis, then broke above the 50 Moving Average. After finding support at the 50 MA price just boomed, while AE/BTC went up up 6333 satoshis gaining almost 300%.
On a corrective wave down price has cleanly rejected the 50% as well as 50 Moving Average suggesting the continuation of the uptrend. The next wave up could result in a strong growth once again where price could hit the resistance at 7800 satoshis area, confirmed by two Fibonacci retracement levels.
While the uptrend seems to be imminent the consolidation could take place, and range between 5k and 4k satoshis. But only break and close below 50% Fibs support at 3977 sat could invalidate bullish outlook.
On a corrective wave down price has cleanly rejected the 50% as well as 50 Moving Average suggesting the continuation of the uptrend. The next wave up could result in a strong growth once again where price could hit the resistance at 7800 satoshis area, confirmed by two Fibonacci retracement levels.
While the uptrend seems to be imminent the consolidation could take place, and range between 5k and 4k satoshis. But only break and close below 50% Fibs support at 3977 sat could invalidate bullish outlook.
Note
Uptrend could have started
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