PAYBTC
TenX PAY Buy OpportunityThe price bounced from the support zone formed by the uptrend line, SMA100 and confirmed continuation of the main uptrend. MACD supports the upward movement and DMI shows that the market has potential for strong price movement and reaching the previous highs at least. RSI reverses in the overbought zone and we should expect for short term retracement to the uptrend line. The zone near SMA100 and the uptrend line will be good for opening new long positions. You can wait for a confirmed reversal signal from this zone and trade based on it or you just place pending orders for buy at 0.000300 level with stop orders at 0.000250 level. Profit target for short term trading should be at 0.000400 level. If you are looking for long term trades, the profit target should be at 0.000600 level and a part of volume can be left for long run. Also it's possible to open such trades based on the current prices. Use the same stop and take-profit orders.
PAYBTC Potential Symmetrical TriangleFew factors make this a trade to watch:
Solid volume over the past week, highest in history of the token
Price holding above mid term support line despite fluctuations in BTC price
Symmetrical triangle forming on the 4h chart
RSI right in the sweet spot, waiting to see it curve up
MACD waiting to cross center and signal line simultaneously
Will be waiting to see it break out of the triangle pattern before getting in.
TenxI still like this project long term and I believe we will see great heights for this soon. Currently, we have been holding above the uptrend. Which is a good sign for more upside or at least a retest of resistance. We are currently in a consolidation phase as well, a breakout in either direction will dictate the continuation towards that direction. If we break down, we will look to retest all time lows and possibly get a trade opportunity from there. If we go up, we will look for potential new highs and grab some profits. What are your thoughts?
Trade with care.
TenX PAYBTCA 68% correction of the downmove could be appropriate given the successful retest of the decisive trendline and supports.
Afterwards, the future is less clear. At this moment noone can say whether the general downward movement from the beginning is corrective as indicated (abc) or if it will turn out to be impulsive with lower lows to follow.
PAYBTC: UpdateThe previous trade is completed and have closed. We are looking to enter another position. With all my Tenx trade, as long as price does not go below 29k Sat, then we are fine to hold. Check my other post on Tenx to get an idea what I am doing. I am holding majority long term for 2-2.5x gains in the coming weeks. What are your thoughts?
Trade with care.