Golos VS Bitcoin Wide Range Trading

Golos VS Bitcoin Wide Range Trading

Back on the 1st of April, Golos found the bottom at 508 satoshis, and then went up to 38.2% Fibs, where it found resistance at 1573 satoshis. The resistance has been rejected and price wend back down to 508 satoshis support.

Yet again the support has been rejected, but this time price formed a double bottom suggesting another corrective move upwards or even a potential trend reversal. The following growth resulted in a break above the 200 Moving Average, which could be the starting point for the short term uptrend.

GGB/BTC could once again rise towards the 1573 satoshis level, where the price range has been formed. However, it is unclear whether it will break above or reject this level. Break above should result in the beginning of the uptrend, while rejection should result in continuation of the range trading.

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