PAY long after rally and retracement

2018년 5월 14일

PAY has found its bottom on 0,77 usd so far (bottom reached when bitcoin also touched its double bottom on 200 MA). After that, the entire crypto market startet to recover nicely, PAY as well. After two failed rallys (double top at 1,67 usd: number 1 and 2 in blue) it did retrace perfectly to the 61,8 % fib. level. This major fib. level which is tasted very often in the markets after a big rallys has been hold so far. This level has to hold and the market has to respect this level!
In addition the 61,8 % level is also supported by a resistance of previous lows.

In summary, it is very likely that the PAY price will continue to recover. And hopefully we will see a higher high beyond the previous high at 1,67 usd.

Good luck!