Agrello VS Bitcoin still trending down

Viktor Karapetjanc Crypto Post

It seems that Agrello downtrend is still valid, since on the last wave up, price failed to produce higher high. But it actually rejected the 2/1 Gann Fann trendline and 427.2% Fibonacci retracement level at 1884 satoshis.

There are two downside targets/support levels to watch, the nearest is 627.2% Fibs, that is 1550 satoshis. If that support will be broken, price is likely to go lower and test next Fib support at 1377 satoshis, that is 727.2% Fibonacci level.

The trend would only be able to reverse to the upside if price breaks above the 2k satoshis resistance. Otherwise bull should dominate DLT/BTC at least for the short period of time.

Author

Viktor Karapetjanc

Crypto Post

Viktor is a Chief Editor, veteran currency trader. He started his trading career in 2001 when he began to study Forex and Binary options trading techniques. Not long after he became a trading systems engineer and algorithmic trading guru.

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