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Metaverse Strong Growth Against Bitcoin
On the 24th of June, Metaverse formed a double bottom at 7820 satoshis, after which price went up sharply, resulting in a 160% growth against the Bitcoin. Price has found the resistance at 20900 satoshis, where it has rejected the 38.2% Fibonacci retracement level.
But at the same time ETP/BTC broke above the descending channel and closed above the 200 Moving Average on the daily chart. This could mean the beginning of an uptrend, with the strong upside potential.
Still, the corrective move down could take place, especially after such a strong growth. ETP could decline towards 38.2% Fibonacci support at 15875 satoshis, and perhaps even lower, prior to the uptrend continuation.
There are two scenarios where investors could take advantage of the potential uptrend. Either wait a corrective wave down, the rejection of the Fibonacci support, or trade the breakout above the current resistance level.
But at the same time ETP/BTC broke above the descending channel and closed above the 200 Moving Average on the daily chart. This could mean the beginning of an uptrend, with the strong upside potential.
Still, the corrective move down could take place, especially after such a strong growth. ETP could decline towards 38.2% Fibonacci support at 15875 satoshis, and perhaps even lower, prior to the uptrend continuation.
There are two scenarios where investors could take advantage of the potential uptrend. Either wait a corrective wave down, the rejection of the Fibonacci support, or trade the breakout above the current resistance level.
註釋
just a perfect rally on ETP
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📱 Telegram: t.me/Tradensee
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。