NAVCoin / Bitcoin NAVBTC Strong Long-term Trend!
The fibonacchi retracement shows the approximately levels of resistance and support. As you may see, there are still couple of resistance level to be broken before NAVBTC will be taking off. We are still in a long-term upwards trend. In short-term, there seems to be strong support at current level and 20k satoshi. I expect NAVBTC to hit at least one of the target levels displayed within a couple of days after it has stabilized. The volumes have been quite small these weeks which may indicate a sudden burst of high volume pretty soon.
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There will probably be no high volume today. The price will probably be around this area for a while. This depends mostly on Bitcoin's chart pattern.
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It seems like buyers are closing in the price (Bollinger bands). A small dip may happen within a few hours then it will probably test the resistance level again.
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The trend has been continuing sideways for a couple of days already without any major volume. The RSI shows that it is near the oversold level which can mean that the sellers' pressure is soon over. Stagnating price movement could be that buyers' are slowly accumulating. A breakthrough above the blue line could indicate price raising higher. MACD shows a crossing but we would probably have to wait a couple of days for a clearer signal.
The trend has been continuing sideways for a couple of days already without any major volume. The RSI shows that it is near the oversold level which can mean that the sellers' pressure is soon over. Stagnating price movement could be that buyers' are slowly accumulating. A breakthrough above the blue line could indicate price raising higher. MACD shows a crossing but we would probably have to wait a couple of days for a clearer signal.
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