After reaching an all-time high at $1.12, Incent sharply corrected down to $0.16, losing 85% to USD. However, price found the support at $0.25 as the weekly closing price remained above that level and this is the price where the triangle was previously rejected after the breakout.

Currently, INCNT/USD is trading around $0.25 support, that could prove to be a good entry point for investors. The growth potential for Incent remains as high as 400% in the medium term, as the upside target is seen at $1.23, where double Fibonacci formed a strong resistance.

On the downside, the support area remains between $0.25 and $0.125 and Incent could get lower once again, but only break and close below $0.08 could invalidate bullish outlook.

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Bitcoin Price Key Highlights

• Bitcoin price is still in correction mode but appears to be bouncing off the trend line support.
• Applying the Fibonacci extension tool shows how high price could go if the trend line holds.
• Technical indicators are signaling that the uptrend is about to resume.

Bitcoin price is finding support at the area of interest on the trend line, 200 SMA, and $10,000 mark so the rally might resume from here.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA on this time frame so the path of least resistance is to the upside. This means that the rally is more likely to resume than to reverse. Also, the 200 SMA lines up with the rising trend line connecting the latest lows.

Stochastic is pulling up from oversold levels to signal that bullish pressure is returning. Similarly, RSI is also turning higher to show that buyers are ready to jump back in.

A bit of bullish divergence can be seen on stochastic as the oscillator formed higher lows while price had lower lows. A bounce could take bitcoin price up to the 38.2% extension around $11,000 or the 50% extension at the swing highs.

The 61.8% extension is located at $12,000 or another long-term area of interest. The 76.4% extension is at $12,788 then the full extension is at $13,590.

Market Factors

The US dollar enjoyed another wave higher on hawkish FOMC minutes and risk aversion. Policymakers agreed that stronger growth momentum could warrant further tightening in the months ahead.

This led to higher bond yields and another weak close for US equities as business and consumer activity could be dampened by higher interest rates. Note that bitcoin price has been trading alongside stocks and commodities, so the dip also affected the cryptocurrency.

Nonetheless, it’s still worth noting that bitcoin sentiment has improved after a few nations have expressed the need to keep the door open for industry developments. Then again, some top financial officials have made negative remarks on bitcoin, particularly on its ability to be a store of value.

The post Bitcoin Price Technical Analysis for 02/22/2018 – Potential Bounce Targets appeared first on CryptoVila.

From September up until December 2017, BlockNet has been ranging between $36 and $13, but in January 2018 price broke the range moving above the previous resistance at $36. BLOCK/USD reached the high at $56.

The following corrective move down resulted in price going back to $20 where it rejected the 88.6% Fibonacci retracement level as well s the 8/1 Gann Fan trendline suggesting that the correction has ended.

Currently, BlockNet is trading at the previous support near 36$, which now is acting a support. This could seem a good entry point for BlockNet investors, from where the price is likely to continue moving higher.

Price could grow as much as 200% from the current price reaching $100 psychological resistance confirmed by 227.2% Fibonacci retracement and 361.8% Fibonacci channel lines. At the same time break above the channel could be the safer way to trade BlockNet, but it seems that the buying opportunity is already offered.

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