Clams VS Bitcoin - Uptrend - The Beginning
Updated
Following the previous idea on Clams, it has broken above the resistance, signaling about the potential beginning of the uptrend. At the same time CLAM/BTC broke above the descending channel and the 200 Moving Average.
Clearly, ClamCoin showing strong sights of strength against the Bitcoin and should start moving higher. The very strong resistance is seen at 144k satoshi, where 50% Fibonacci retracement is. At this resistance area, there is also a 3/1 Gann Fan trendline and the upper trendline of the extended descending channel.
Overall, the bullish trend is likely to accelerate to target 144k satoshi resistance area and break above could establish a long-term trend upwards. Only break below the 38k satoshi support could invalidate bullish outlook.
Clearly, ClamCoin showing strong sights of strength against the Bitcoin and should start moving higher. The very strong resistance is seen at 144k satoshi, where 50% Fibonacci retracement is. At this resistance area, there is also a 3/1 Gann Fan trendline and the upper trendline of the extended descending channel.
Overall, the bullish trend is likely to accelerate to target 144k satoshi resistance area and break above could establish a long-term trend upwards. Only break below the 38k satoshi support could invalidate bullish outlook.
Note
Still waiting, and still bullish on clams
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