Monero VS Bitcoin Expecting More Gains

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Following the previous idea on Monero VS Bitcoin, it hit the upside target at btc 0.22 and went higher up to btc 0.029. Although price corrected back to the previous resistance which is now acting as a support.

This price seems a good entry point for a short-term trend up. The next strong resistance is located very close to the btc 0.03 psychological round number, that is confirmed by the 76.4% Fibonacci retracement level. It is quite likely that the next wave will be going up to test that resistance. Break above could push it even further, but it is yet to be seen if Monero indeed that strong. Only a break below the 200 Moving Average could invalidate bullish outlook.

Source: http://cryptopost.com

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