Request Network VS Bitcoin Upside Target

Viktor Karapetjanc Crypto Post

Request Network Token has found the support at 1300 satoshis. The support is confirmed by the 527.2% Fibonacci retracement level applied to the corrective wave after the uptrend trendline breakout.

The support was rejected cleanly followed by the strong growth resulted in the break above the downtrend trendline. But REQ/BTC failed to break above the 50 Moving Average, that currently acting as the resistance.

Currently REQ might start to consolidate between 1300 support and 1700 satoshis resistance and it is important to watch for the break above the resistance in order to expect further growth. When/if that occurred, price is likely to move up, towards the 50% Fibonacci retracement at 2350 satoshis. At the same time break and close below the support could result in a continuation of the downtrend.

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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