CFXUSDT trade ideas
CFX - SCALABILITY ITSELF 🧩Conflux Blasts Off Nearly 40% In Single Day – Will CFX Soar Higher Amid Banking Crisis?
Well, $CFX price tells everything! +160% in 4 successive days, this only shows how confident the investor is.
You missed getting in early? no worries, technically $CFX is faceing a double top resistance and early buyers are most likely to take profits at this level, a healthy correction towards $0.25 is likely in next few days so make sure you set your alerts!
Regarding my risk management for this trade, I am looking for buys at 50-60% correction and targeting $0.5 for TP which is ~2X return.
Make sure you follow me for more solid investment ideas.
CFXUSDOn the 30M Time frame as you can see short term short until 0.4092 however I do have a strong feeling if BTC does manage to brake 28.7k we will see CFX try and go for 0.50 which was pervious high. If we see short term pullback then I expect to see CFX touch .236 fib which is around 0.403433
Otherwise on 4 HR time frame we have good support at 0.5 fob - 0.30 level
CFX up to Weekly / Monthly resistance, finish correction @ 0.24I expect a pump to 0.38 - 0.41 (Weekly SR lines are red, Monthly SR lines are yellow). Then rejection with final support at Weekly / Daily (white) confluence around 0.24.
HOWEVER... we are at monthly support now. It's possible the correction is over. Just doesn't feel like it. Any sharp upward moves are likely exit liquidity and should be faded.
CFX - Counter StrategyStill in the short from 0.48 but considering alternative outcomes.
The ceiling is at 0.77 and presents a realistic target for early April. Interestingly this is the trend based Fib indicates a key level of resistance there. I'm considering a sizable hedge.
Best, Hard Forky
Local Short
CONFLUX- Amazing Structure ✔️First time i heard from these guys all i said was: 'The Chinese are back'! And they are the good kind of China men and women. My good friends in Hungary also involved in the project and it took me a bit of research and studying to say: ''I LIKE THIS!!!''
I've been involved with trading CFX and it's been great to me (i did close a trade with losses before re-entering at 0,31 couple of days ago. Spot? That I am not selling yet).
I see potential for 0,79$ here but I am used to taking profit partially and will do so at 50c and 63c.
The project is innovative, they even asked to interview me as a Key opinion leader to develop something interesting for people like me that do charts. i liked the idea but can't share more.
I can tell you one thing though: This Team is full of energy and they stand for hard work! Unlike many cryptos out there they seem to be delivering and i can bet some money on them, i think they will do great!
One Love,
The FXPROFESSOR