FREE CRYPTO INDEX ANALYSIS UPDATE
The bottom has been formed
- Yello, ladies and gentlemen !
Bulls won the battle at our projected support. There were a bounce off the simple uptrend trendline and 61.8% Fibs at 242,000.
During the past week CIX has been consolidating between 239-257k. But today we can witness an attempt to break above the downtrend trendline.
If/when CIX breaks higher, bullish pressure should increase exponentially. In this case, the CIX long-term uptrend will most likely continue. At the very least price should be aiming for the 286k supply area. Only daily break and close below 239k will completely invalidate the bullish outlook.
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