TenX Pay Token found the support at 10500 satoshi and slowly started to move higher. Price broke above the descending channel and 200 Moving Average signaling on a potential correction up or even a trend reversal.
After breaking higher and testing 40k satoshi, PAY/BTC corrected back where it rejected multiple supports.
Upper trendline of the descending channel REJECTED
50% Fibonacci Retracement REJECTED
200 Moving Average REJECTED
Uptrend Trendline REJECTED
It seems like TenXPay is becoming very bullish and should outperform Bitcoin, at least in the short to medium term. First target near 60k satoshi where two Fibonacci retracement levels meet with each other, the 227.2% applied to the last corrective wave down and 76.4% applied to the September high and December low.
Therefore, TenXPay could easily double in value against Bitcoin and if the 60k resistance is broken there will be much more upside potential. Only break below the 10k support could invalidate bullish outlook.