FTO/BTC – Friday March 5 at 8:30 a.m.
The FTO / BTC market from 20/02 moves in a narrow channel with a downward trend, where the bottom line runs around 0.000687 (support) and the upper resistance line is 0.0008000. 02/04 The market came out of the channel at the bottom which was the effect of BTC’s strengthening on global markets. The lower limit of the channel is at this moment the nearest resistance which runs in the vicinity of 0.000658. In the case of a positive crossing by the bulls of this level should end the downward trend lasting for several weeks. However, if the given level turned out to be unbeatable at this moment, one can expect further losing of the market to around 0.00047 where a long-term support line runs.