ParkByte VS Bitcoin Strong Upside Potential
Updated
ParkByte found the support at 5k satoshi after which it started to move higher, breaking above the downtrend trendline and the 200 Moving Average, reaching 11k satoshi. On a corrective wave down, PKB/BTC rejected the 200 Moving Average which is now acting as a strong support.
Such price action suggests that the uptrend could be just around the corner especially after price started to produce higher lows and higher highs, reaching today 14k satoshi. The upside potential is strong, where ParkByte could outperform the Bitcoin by four times while targeting 38k satoshi. This is the price where two Fibonacci are inline, first is 38.2% level applied through the all-time high, and second is 88.6% retracement applied from 12th October high to 8th of December low. On a downside, only a break and close below the 4k satoshi support could invalidate bullish outlook.
Such price action suggests that the uptrend could be just around the corner especially after price started to produce higher lows and higher highs, reaching today 14k satoshi. The upside potential is strong, where ParkByte could outperform the Bitcoin by four times while targeting 38k satoshi. This is the price where two Fibonacci are inline, first is 38.2% level applied through the all-time high, and second is 88.6% retracement applied from 12th October high to 8th of December low. On a downside, only a break and close below the 4k satoshi support could invalidate bullish outlook.
Trade closed manually
closed with profit at 0.00019
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