Polymath has found the bottom at 4300 satoshis after which the uptrend has begun. Price has already reached 13.5k satoshis, which has resulted in a 215% growth in just over one month. When that high has been reached, price broke above the 227.2% Fibonacci resistance with a daily close above.
The corrective wave down followed and POLY/BTC found the support at 127.2% Fibs, that is 10662 satoshis. It seems that 10k sats is a strong psychological support area from where the uptrend could continue. While th 13k satoshis resistance has been broken, the next logical target is at 327.2% Fibs, that is 15.5k satoshis - another 35% growth potential from the current price.
It is possible that Polymath would take some time to gain some upside momentum and price could go down to the 50 Moving Average. However, the trend remains bullish and it just a matter of time till POLY/BTC will produce a new all-time high.
The corrective wave down followed and POLY/BTC found the support at 127.2% Fibs, that is 10662 satoshis. It seems that 10k sats is a strong psychological support area from where the uptrend could continue. While th 13k satoshis resistance has been broken, the next logical target is at 327.2% Fibs, that is 15.5k satoshis - another 35% growth potential from the current price.
It is possible that Polymath would take some time to gain some upside momentum and price could go down to the 50 Moving Average. However, the trend remains bullish and it just a matter of time till POLY/BTC will produce a new all-time high.
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Trendline rejected
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