HOT Analysis Update

Yesterday we saw a huge sell off across the market, seeing a higher impact on alt coins. HOT dropped below its previous .618 support level at around $.0135, dipping down to it's .786 retracement level at around $.0009, and then finally shooting back up to the .618 level. The strong rally from its .786 to .618 retracement level shows a decently strong support at .786 level. HOT is currently trading on the higher end of this .618-.786 channel, and will most likely run sideways within this channel for the time being. Some things to look out for are how BTC will respond to 47.5k and 44k. If we BTC drops below 47.5k/48K, we could see another panic sell, and HOT could drop back down to test the .786 support level again. If BTC rallies to 52K, we could see HOT break through it's .618 resistance, but I wouldn't count on that .618 level becoming HOT's new support. This is just my personal opinion, not financial advice. Trade safe.