BAND like most alts has popped and fallen down. Now we look for a new bottom from which to rise. We got a decent bounce but retreated with market.
Just above current price is a serious resistance zone. Three fibs of various strengths, each recent actions. Gold 2.618 at $6.4015 will be the strongest resistance.
Break above and rest of 6.4 would be a foundation to build on. Break below 6.1223 could get ugly, and below 5.85 its "all over". The Fib levels are from my "Impulse" concept, see "Related Ideas".
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Boom!
Key resistance at 6.4 broken with gusto
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Zoom IN (3min) Nice launch off the gold 1.618, noticed the gold 2.618 key level then smashed it.
Likely to come back a bit here, but lets see, I think it will hit that 7.1 double fib pretty easy.
So after a nice retest of the resistance, we got another leg up even though it got past that "Double Fib" the first time, it is now struggling against it.
Clearly, this is NOW an important level. But we KNEW it would be long before hand. And that is how fibs get MORE accurate with time: Everybody in the world has now see the importance of that price, even blind to the fibs.