BTCST - Potential break of its downtrend
Updated
BTCST seems to have broken out of its descending triangle with a bullish uptrend, which could be due to the upcoming pool launch today.
We have quite a lot of resistance floors ahead of us but if my prediction is true, the pattern will upwards could be in the movement of creating a cup formation up to usd 65. If that is the case, i.e. the pattern is in the movement of creating a cup and handle, we can expect a retracement after usd 65 for the formation of the handle pattern.
We have quite a lot of resistance floors ahead of us but if my prediction is true, the pattern will upwards could be in the movement of creating a cup formation up to usd 65. If that is the case, i.e. the pattern is in the movement of creating a cup and handle, we can expect a retracement after usd 65 for the formation of the handle pattern.
Comment
BTC has shaken things a lot the past 12 hours, but BTCST has strong support at 37+, which is an upside. However, this implies that BTCST's recovery will be delayed until the market has become more stable and more side-tracking along 37-40 is expected.It is likely that BTC will shake more things up the coming days, so be prepared for a bumpy ride.
Comment
We are still in recovery and it is not likely we will se an upswing until BTC finally tries for the next ath.
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