TenX Pay vs Bitcoin Could Be Reversing

TenX Pay clearly trending downwards, while moving within the descending channel. Although recently price bounced off the lower trendline of the descending channel and went up from 7523 to 14785 satoshis, resulting in a 96% growth in just 3 days.

On a corrective wave down, PAY/BTC found the support at 76.4% Fibonacci retracement level, that is 9k satoshis area. So far the support has been rejected and if it holds price could start moving upwards, and perhaps result in a trend reversal.

Obviously it is far too early to speak of the trend reversal, but the current price does present a very interesting buying opportunity. Nonetheless, if TenXPay will go below 8900 satoshis support, the downtrend continuation could take place, resulting in further decline, perhaps down to the 5k satoshis level.



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