Counterparty - How Far Up?
At the moment XCP/USD is facing the downtrend as a resistance which has been rejected on the 11th of November. Although Fibonacci applied to the corrective wave up after the downtrend (on a smaller scale) was broken, shows that Counterparty broke above the 127.2% resistance and it should at least test next resistance - 227.2% level at $18.2.
$18.2 could play a key role in the further direction. Break above it should push price much higher, to at least $28 to test 427.2% Fibonacci, while if $18.2 will be rejected a corrective wave down could follow, resulting in a continuation of the consolidation.