BlockNet found the bottom at btc 0.0015 after which it broke above the 50 Moving Average. BLOCK/BTC could be getting ready to establish an uptrend and double its’ value against the Bitcoin.

But currently it facing a resistance at btc 0.00234, that has been rejected multiple times. Daily close above that level should confirm price bullish intentions and should result in a wave up. There are several resistance levels to watch. First strong and potentially key resistance is based at 38.2% Fibs, that is btc 0.00353. Break above that level could send the price up to the target area at 61.8% Fibs, that is btc 0.005.

While the btc 0.0023 resistance is holding a consolidation could take place and even result in a decline towards btc 0.00155 support.