Home Crypto Crypto Market Analysis 2GIVE/BTC Turned To The Downside

2GIVE/BTC Turned To The Downside

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2GIVE (2GIVE)


Market Cap: $2.88M

Circulating Supply: 519.37M 2GIVE

Max Supply: 0 2GIVE

Volume (24h): $11.07K

2GIVE/USD = $0.005658


2GIVE/BTC Technical Analysis


The 2GIVE/BTC rate has dropped significantly today and has reached the 0.00000084 level, but now has squeezed a little in the last hours. We may have a great selling opportunity if the rate will drop further and will close below the  0.00000084 low and below the downside 50% Fibonacci line of the major descending pitchfork. Personally, I believe that only a valid breakout above the outside sliding parallel line (SL) will invalidate the bearish scenario.


 

The rate has made a valid breakdown below the uptrend line which is the same as the lower median line (lml) of the ascending pitchfork, and also failed to reach and retest the SL of the minor descending pitchfork. Price could drop deeper because it stays closer to the downside 50% Fibonacci line of the major descending pitchfork.

The first target it will be at the 50% line and at the 150% line, a breakdown below the mentioned dynamic support lines will send the rate towards the upper median line (UML). Actually, the median line (ML) could attract the rate after the several false breakouts above the upper median line (UML).


Conclusion


The 2GIVE/BTC should drop further if it will close below the 0.00000084 today’s low and below the 50% line of the major descending pitchfork. The first major downside target remains at the ML of the minor descending pitchfork. A Stop Loss can be placed right above the 0.00000105 high.

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