Decent VS Bitcoin – Ascending Channel Pattern


Decent found the bottom at 3200 satoshi where it formed a double bottom. Price then rallied upwards testing 24k satoshi, resulting in a 640% growth in just under two weeks.

The following corrective wave down brought price down to 11k satoshi where it found the support. There DCT/BTC rejected the ascending channel and the 200 Moving Average. It appears that from this point onwards price could continue moving higher. The first resistance is sen at 61.8% Fibonacci retracement level applied through the previous high, the second resistance is 261.8% Fibonacci retracement applied to the last corrective wave down. This makes the area between 37k and 39k satoshi makes it a key resistance area as it also corresponds to the upper trendline of the ascending channel.