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Sxpusd

SXP/BTC (Testing Major Support?)KUCOIN: SXPBTC -Swipe is now testing key support area at 16000 sat -And forming a descending channel which is bullish in technical pattern -To trade this pattern, the safest approach is to wait for breakout direction (upside) -Once the breakout is confirmed to the north, strong buying present will start to jump in -The upside potential is up to 36000 sat or higher -100D MA is already approaching the price and will likely once starts consolidating **If you like my daily Published Ideas **Please don't forget to leave a thumbs up & comment **Thank you! :)
by PolarHusk
11
SXP/BTC (Retest Key Support?)SXP/BTC -Swipe is testing the Key support area again around 23800 sat -This region is a confluence of previous resistance turned support -The 0.618 Fib level also coincide and the 200MA dynamic support as well -We can also see the upward trendline of support starting from July 27 trading -Two option to enter this market condition -Opening buy position at current market price -It is aggressive but the reward is huge if SXP will continue its uptrend -But the risk involved is much higher since there is not enough confirmation yet -If you want to enter with less risk, you could wait for the break of local resistance -Buying above 27000-28000 sat will give extra confirmation that the uptrend is about to resume -The choice is yours, what is your risk trading appetite? -Please always plan your next trade -Exit if becomes invalid and take profits once in good condition
Long
by PolarHusk
SXPUSD - Consolidation & Expected Trend ContinuationThe recent correction in SXPUSD was part of a market wide event triggered by volatility in BTCUSDT . We have now been squeezed into a range bound consolidation. Potential outcomes in the short term: Remain range bound and essentially pegged to price action on BTCUSDT . Prevailing uptrend loses intensity, but not necessarily invalidated. Maintain prevailing uptrend and breakout of consolidation zone. Retest of local high around 5.0 if trendline support is respected , otherwise establish new range at higher bounds. Break below bottom of consolidation zone and break current market structure. New range established at lower bounds. I have been accumulating at the bottom half of the range and selling in the top half. This is also, IMO, a good long term hold. Long term trend for BTCUSDT is looking bullish as it recently broke out to the upside on a long timeframe wedge, and it is likely to bring alts along for the ride.
BINANCE:SXPUSDLong
by Derivati_Capital