Civic (CVC) Starts The Rebound!

2 dic 2020

Civic (CVCBTC) peaked on 10th November after massive bullish growth...

When we have strong bullish action, what follows is a retrace/correction. This is normal and how the market works.

Now, we see prices going flat and stopping at EMA50, the bold magenta line on this chart.

As this level was hit, today we can see a bullish break above EMA21 and EMA10.

The retrace also hit all the way down to the 0.786 Fib. retracement support level...
We have increasing volume...

These are bullish signals...

We also have a strong RSI, signaling that CVCBTC can produce additional growth.

Conditions for change

The charts are always changing, each day a new candle is printed, each minute the prices are changing, so no matter what the chart is saying now always be prepared to see change at any given point.

If CVCBTC closes today's candle above 0.00000535, the bullish momentum is confirmed and we can see higher prices.

But if instead, we see a retrace and prices move and close below EMA10, we can say the bulls have lost control and the lower support levels (light blue) can be tested before seeing more green.

Seeing that many altcoins are waking up bullish today, CVCBTC is likely to continue to increase.

Whatever happens, always remember that patience is key.

Namaste.