Papou
Long

CFI downtrend broken

BITTREX:CFIBTC   None
We can see the longterm downtrend finally broken on CFI as expected at these levels, considering its market cap. Very doubtful we see lower prices in terms of BTC here honestly as there is no one truly in profit at this point to sell. CFI has strong fundamentals, especially with its partership with Ethfinex (Bitfinex new ERC20 platform) which you can read about here. https://blog.ethfinex.com/announcing-cof...

Very likely we make a move to what would be a resistance belt from prior consolidation as we move sideways here and consolidate ourselves. If BTC does take a turn for the worst, Cofoundit will 100% hold its USD value and start expanding BTC price wise which could spark a rally. Project has been quiet for sometime post ethfinex announcement; long term accumulators are very unlikely to be taking short term profit considering how the priority pass works. Measuring this retracement and looking for extensions, I am going to up my long term target on this to 60k

Comments

You wanna say 6K right ? 60K = X40 lol
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Papou CreedDinos
@CreedDinos, no, once the next cycle activates, yes 60k would be top
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Really useful analysis on CFIBTC, thanks!
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Great eye to spot the move my friend, sending thanks from Israel!
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Papou fejekejazg
@fejekejazg, thank you! Greetings back as well. Israel is a beautiful country
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