UBIQ Might Outperform Bitcoin By 100%
UBIQ currently stuck between the support and resistance levels. The support is the 78.4% Fibonacci retracement level, that is 17.8k satoshis. This level has been rejected cleanly back on 1st of April. Although UBQ/BTC went up, it found the resistance at 30.5k satoshis, that previously acted as the support as well as resistance.
The trading between 17.8k support and 30.5k resistance continues. But the strong indication of the uptrend could be break above the 30.5k level, which should result in a growth towards 68k satoshis, that is 161.8% Fibonacci retracement level that corresponds to the 8/1 Gann Fan trendline.
On the other hand, if price continues to move lower with the daily close below 17.8k satoshis, the bullish outlook will be invalidated and price could go down to 8.5k support.
Support: http://cryptopost.com/ubiq-might-outperform-bitcoin-by-100/
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