Cindicator VS Bitcoin Trap

Since reaching an all-time high at 3320 satoshis, Cindicator went down and found the support at 88.6% Fibonacci retracement level. So far it has been rejected along with the 8/1 Gann Fan trendline, where no clean break below was witnessed.

It seems that now CND/BTC is trapped between the support and resistance, which may lead to a consolidation between 830 and 1170 satoshis. Break above the resistance or below the support should help to determine the further direction of Cindicator.

Break below should end price lower towards 500 satoshis, while the break above is likely to result in a wave up, towards 61.8% Fibonacci retracement at 2350 satoshis.

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