PHXBTC Triangle, Uptrend Breakout, Save Profit
Updated
Hello guy, what's up today!
After PHXBTC heavy correction, key support at 350 is hopeful. I believe this triangle break from above. Why?
- RSI still shows us 62 level is touchable.
- MACD is in the uptrend moving.
Resistance on 425 needs to touch because it confirmed on 5th of Nov while price reaches to 408. After that resistance, 420 could push down the price a little bit until 400. any further correction below 400 needs stop-loss. I recommend on 396.
420 needs to test again but if breakout happens from above new targets are 500, 600,700
After PHXBTC heavy correction, key support at 350 is hopeful. I believe this triangle break from above. Why?
- RSI still shows us 62 level is touchable.
- MACD is in the uptrend moving.
Resistance on 425 needs to touch because it confirmed on 5th of Nov while price reaches to 408. After that resistance, 420 could push down the price a little bit until 400. any further correction below 400 needs stop-loss. I recommend on 396.
420 needs to test again but if breakout happens from above new targets are 500, 600,700
Trade closed: target reached
Nice an easy profit !
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.