Bancor (BNT) Does 85% Correction, Going Back Up?

When the altcoins retrace, we normally see prices finding support at the 0.786 Fib. retracement level of the current wave.

Here we are looking at BNTBTC and we can see that 85% of its price peak value is gone... Will prices now go higher or continue to drop?

As this drop took place, we are seeing now a bounce, very strong bullish divergence with the MACD and RSI, and a break above EMA10.

All these can indicate that the retrace might be coming to an end...

On the other hand, if Bitcoin (BTCUSD) prints a strong drop, BNTBTC might go to the last support level before its next bullish jump.

Something is certain, the bearish wave is coming to an end... The bulls will jump in once more.

Namaste.

Kommentera:

Another bullish breakout.

It turns out that BNTBTC is also doing pretty well.

There will be more.