Burst coin does look very healthy and could provide a substantial growth on invested coins. Although there are quite a few obstacles on its' way up.
BURST/USD found the support at $0.005, rejecting it multiple times and then breaking above the descending channel. At the same time, it broke above the 200 Moving average and on a corrective wave down rejected it. Higher highs and higher lows pattern is also present, and with all given facts the conclusion is that Burst has established an uptrend.
First strong resistance is seen at 50% Fibonacci retracement level, the very same resistance that has already been rejected on the 3rd of September and could act as a heave resistance once again. Then Burst could overcome 61.8% and 71.6% retracement leves and if that happens it should rise towards 127.2% that is $0.032, or 161.8% that is $0.04
While the enourmous growth potential is there, reistance levels must be watched and only break below the $0.005 support would invalidate bullish outlook.
BURST/USD found the support at $0.005, rejecting it multiple times and then breaking above the descending channel. At the same time, it broke above the 200 Moving average and on a corrective wave down rejected it. Higher highs and higher lows pattern is also present, and with all given facts the conclusion is that Burst has established an uptrend.
First strong resistance is seen at 50% Fibonacci retracement level, the very same resistance that has already been rejected on the 3rd of September and could act as a heave resistance once again. Then Burst could overcome 61.8% and 71.6% retracement leves and if that happens it should rise towards 127.2% that is $0.032, or 161.8% that is $0.04
While the enourmous growth potential is there, reistance levels must be watched and only break below the $0.005 support would invalidate bullish outlook.
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First resistance rejected, Burst will not break above, a correction down is likely
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Get ready for a huge growth!
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It is quite likely to go beyond my targets
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you guys are being brilliant with likes and support )
Trade closed: target reached:
Closed at 0.031
Trade active
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Very close to the final target, stop loss at 0.03
Trade closed: target reached:
Thank you all for likes and support :) Hope you enjoyed the profit
Comment:
Interestingly Burst found the support where resistance was.... could go high again