Adex is currently trading within the descending channel, although on the last wave up it failed to test the upper trendline of the channel and went down. The decline was stopped at the 10k satoshis, that is a strong psychological support as well as 76.4% Fibonacci retracement level.
While the support is holding it is very likely that ADX/BTC could establish an uptrend, towards 74k satoshis resistance confirmed by two Fibonacci retracement levels. That is 630% growth potential over the Bitcoin.
On a downside, daily break and close below 10k satoshis could extend the consolidation and send price back to 5.5k satoshis support, nevertheless, that price should be far more attractive for buyers.
Source: Read Full Article
Leave a Reply
You must be logged in to post a comment.