Bitquence VS Bitcoin does look strong

Viktor Karapetjanc Crypto Post

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.

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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