CapriCoin VS Bitcoin Showing Weakness

CapriCoin found the support at 1500 satoshi and started to moving higher. Under heavy volume, price broke above the 200 Moving Average but immediately was stopped at the 38.2% Fibonacci retracement level.

Currently, 12-13k satoshi area remains a key resistance as it has been rejected three consecutive times, together with the 2/1 Gann Fan trendline. CapriCoin does not have the necessary strength to rise now and therefore should correct down towards 200 Moving Average or 61.8% Fibonacci retracement level at 5885 satoshi. Only a break and close above 13k satoshi could invalidate bearish outlook.

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