Bitquence VS Bitcoin does look strong
|Bitquence starting to look strong after breaking above the downtrend trendline and rejecting the 127.2% Fibonacci support level at 32k satoshis. Price continues to produce higher highs and higher lows while rejecting the uptrend trendline.
All-in-all current price action suggests the continuation of the uptrend. The upside target is seen at 90k satoshis, confirmed by two Fibonacci retracement levels, that could result in a 125% growth from the current price.
On a downside, currently BQX/BTC is undergoing the correction down and it could take some time for the uptrend to resume. The consolidation and even decline towards 30k satoshis area could take place, but only break and close below it would invalidate bullish outlook.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.