IOT/BTC has rejected the 61.8% Fibonacci multiple times and with the last bounce of that , occurred last week, the 8/1 has been rejected cleanly as well.
This could be first signals of the end of consolidation period and continuation of the long-term uptrend. The price is certainly attractive for buyers and least for the short term investment. The first resistance is at 23.6% Fibs that is btc 0.00035 level and should play the key role in further price development. Break above it should confirm the long-term uptrend, while the rejection could prolong the consolidation period.
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