Civic VS Bitcoin Nearest Upside Target

Civic is clearly trading upwards against the Bitcoin, while producing higher highs and higher lows. The recent corrective wave down from the 5200 satoshis high resulted in over 25% loss. However, price has found the support at 50% Fibonacci retracement level, that is btc 3877. At the same time the 4/1 Gann Fan trendline has been rejected cleanly suggesting the continuation of the uptrend.

The nearest upside target is seen at 5657 satoshis, that is 361.8% Fibs, applied to the corrective wave down after the break above the 200 Moving Average. It also corresponds with the Gann Fan trendline and potentially target could be reached in the shortest perdiod of time.

Break above the nearest resistance should be confirmation of the beginning of a stronger growth and could send CVC/BTC much higher. On the downside, only break and close below 3800 satoshis could invalidate bullish outlook.

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