$FX/BTC 1D (KuCoin) Descending wedge near breakout
Updated
Function X regained 50MA support and could be forming a bull-pennant. Since it just got listed in Coinbase, bullish continuation is likely.
The f(x) ecosystem went main-net earlier this year and is fully decentralized, more information about that project from Pundi X Team on functionx.io/
Current Price= 0.00001862
Buy Entry= 0.00001736 - 0.00001520
Take Profit= 0.00002499 | 0.00003318 | 0.00003954
Stop Loss= 0.00001046
Risk/Reward= 1:1.5 | 1:2.9 | 1:4
Expected Profit= +53.50% | +103.81% | +142.87%
Possible Loss= -35.75%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 2 months
The f(x) ecosystem went main-net earlier this year and is fully decentralized, more information about that project from Pundi X Team on functionx.io/
Current Price= 0.00001862
Buy Entry= 0.00001736 - 0.00001520
Take Profit= 0.00002499 | 0.00003318 | 0.00003954
Stop Loss= 0.00001046
Risk/Reward= 1:1.5 | 1:2.9 | 1:4
Expected Profit= +53.50% | +103.81% | +142.87%
Possible Loss= -35.75%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 2 months
Trade closed: target reached
TP1 reached with +50.18% and +1.5RFunction X instantly pumped and broke-out of the wedge, I hope you were fast enough since there was not much time to enter!
If you want to follow more news and stuff, you can join their official channel: t.me/functionx_io
Trade closed: target reached
TP1 reached again with +53.50% and +1.5RFunctionX pumping back from demand zone / 100EMA and looking promising!
Trade closed manually
Remaining position closed with -35.75% and -1RFunction X ended up losing 100EMA support and retraced all the way down, kicking us out after 7 months.
RSI is approaching oversold territory, probably a final sell-off before going back to supply zone!
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