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TimeNewBank VS Bitcoin is About to Blow Up?

TimeNewBank token had a massive correction down after reaching an all-time high at 2255 satoshis. Price declined by 86% and found the support only at 300 satoshis area. This is the 261.8% Fibonacci retracement level, applied to the corrective wave after the uptrend trendline breakout. The support is being rejected, and during the period of two months price failed to go any lower.

While staying above the support level, TNB/BTC could have formed a strong bottom, which might result in a trend reversal. The first target is at 720 satoshis, and second is at 1250 satoshis, both correspond to the Fibonacci retracement levels and previous levels of the support/resistance.

On a downside, break and close below 250 satoshis should invalidate short-term bullish outlook and extend the consolidation. No major decline can be expected since TNB current price is already extremely low and trading at 360 satoshis.

Source: http://cryptopost.com/timenewbank-vs-bitcoin-is-about-to-blow-up/


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FoldingCoin VS Bitcoin Waiting For Breakout

After reaching the 650 satoshis high, FoldingCoin has been trading downwards and after it broke the uptrend trendline, price continued to decline within the descending channel. Fibonacci applied to the corrective wave up after the uptrend trendline breakout shows, that support at 227.2% Fibs has been reached and rejected. At the same time, the middle trendline of the descending channel acted as a support, and price started to move higher.

From the 150 satoshis bottom, FLDC/BTC went up to almost 200 satoshis, where it is currently trading. But still price remains below the downtrend trendline, and in order for FoldingCoin to move higher, it must break above it.

Break and close above the trendline should confirm the short-term upside momentum and could send price towards either 23.6% or 38.2% Fibonacci retracement levels, that is 270 or 340 satoshis.

On a downside, unless the trendline is broken, the price could remain in a consolidation mode and continue trading near 150 satoshis for a little while. However, it is not expected to go lower than 100 satoshis psychological support.

Source: http://cryptopost.com/foldingcoin-vs-bitcoin-waiting-for-breakout/


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