Florin
Florincoin VS Bitcoin Support RejectedSince January Florincoin has been correcting down and went from 2700 down to 755 satoshis, losing 72% to Bitcoin. However, FLO/BTC found the support at 88.6% Fibonacci retracement that has been rejected cleanly on the 7th of April.
After the bounce from the support price went up braking above the 200 Moving Avearge and currently staying above it. The MA is currently acting as the support and if price continues to stay above it, the next wave up should follow. The strong resistance is seen at 50% Fibonacci retracement, that is 3500 satoshis, which corresponds to the upper trendline of the extended channel.
However the condition for the uptrend continuation if that the daily close must stay above the 755 satoshis. But on the other hand it is possible that Florincoin will go back down to that support, only if the breaks below the 200 Moving Average.
Florincoin VS Bitcoin - The End Of Consolidation?Since Florincoin reached the high at 6.5k satoshis, back in May 2017, the price has been going down, reaching the 500 satoshis low. This decline resulted in over 90% loss to bitcoin, but now price action begins to look in favor of the trend reversal.
After reaching 500 satoshis low, FLO/BTC went up breaking above two descending channels as well as the 200 Moving Average, although rejected the resistance formed around 3k satoshis area.
Currently, RSI has formed a bullish divergence suggesting that the price once again is ready to move higher, at least towards the massive resistance area at 3k satoshis. But to confirm the potential upcoming wave up, Florincoin should break above the minor resistance at 1200 satoshis. Break above the 3k satoshis resistance should result in more growth and could send price up to 6.5k satoshis or higher.
Florincoin Is Expected To Double In ValueFlorincoin has corrected down massively since reaching the $0.4 high. Price went south as much as 85%, hitting the $0.06 low. FLO/USD broke below the 88.6% Fibonacci retracement level as well as the uptrend trendline. Nevertheless, price recovered very fast and went up to $0.0135 breaking above the descending channel.
Current correctional wave down was stopped by 88.6% Fibs at $0.087, which this time is being rejected, together with the uptrend trendline. While the consolidation could continue, Frorincoin should produce a wave up at some point, if the support will be respected.
The first upside target is at $0.18, and the second is $0.22, that is 100% growth potential from the current price.
FlorinCoin ReversalFlorinCoin has lost 85% to USD since the correction started back in the beginning of January. Price went down to $0.058 from the $0.4 high. Fibonacci applied to the corrective wave after the uptrend trendline breakout shows that the support at $261.8 is now being rejected after price managed to go below, but recovered very fast.
If FLO/USD will manage to close above local resistance at $0.11, there are good chanced that Floricoin will rise up to the previously established resistance at $0.17, that corresponds to the 2/1 Gann Fan trendline.
On a downside, break and close below the $0.08 support should invalidate bullish outlook and could send price even lower.
Florin (FLO): Bottom + LONG = 80%+ Profit PotentialFlorin (FLO) coin is sitting just above support.
Red line = Support
Green line = Resistance / Target
Buy-in range:
(*) 0.00000900
Target:
(1) 0.00001100
(2) 0.00001650
Stop:
(*) 0.00000750
80%+ Profit potential
Remember... YOU DESERVE THE BEST!
