Following the previous idea on Nexium VS Bitcoin, the trend reversed to the upside as projected, after rejecting the support at 1140 satoshi. The wave up resulted in the break above the 200 Moving Average and price reached the 5400 satoshi.
Although the consolidation followed and NXC/BTC corrected down to the 200 Moving Average which has acted as a support and has been rejected. Now the uptrend is likely to continue with the first target being at 8740 satoshi, that is 61.8% Fibonacci retracement levels. Break above that resistance will establish a long-term uptrend as suggested in the previous idea.
Although the consolidation followed and NXC/BTC corrected down to the 200 Moving Average which has acted as a support and has been rejected. Now the uptrend is likely to continue with the first target being at 8740 satoshi, that is 61.8% Fibonacci retracement levels. Break above that resistance will establish a long-term uptrend as suggested in the previous idea.