PAYBTC trade ideas
TenX. PAY/BTCOn daily chart can see formed triangle. RSI find support level and resistance-trend-line. CCI stuck in low zone. ADX show very low power of Bearish trend, means market not support BIG Sale. MACD show Divergence, and Ichimoku Cloud turn to green , but "Chikou" still under cloud. TenKan and Kijun close to each other. In one trading technical analysis book i met theory that indicators can use also to look support, resistance and trendlines. TenX , PAY/BTC have 2 way, and brake-out of triangle with Bullish candle is more strong than continue to falling down.
TenX, Pay, PAY/BTC1) Red bearish channel, based on 2 lowest point.
first touch '2" than another side 'b', and can see don't have that bearish power to pull price to another side of channel.
2) Green bullish channel. start in same , 2nd historical low, '1', strong push to '2' and create another side of channel, pull back to '3' and don't strong until middle of channel and broke in 'x'.
3) Bearish inside Bearish in black channel.
(2,b,'i') for beginning, 'ii' for reflect (by candle there have touch), 'iii'- didnt hit 'red' channel, 'iv' +'3' , straight to 'v', and now price hanging around black channel middle line, and 'x' of bullish support trend line. Price can continue to follow on line (a,1,iv,3,x). In this can see that bearish dominating on market, and people keep selling coins due panic and BTC movement.
PAY accumulationPAY has returned to this long accumulation area and it might not stay here much longer. The overall crypto market is showing signs of recovery and PAY is a long term hold. They've had trouble with their cards (as every other company depending on WaveCrest) but they stated that new cards will be delivered at some point. When they will make the announcement that the new cards are ready for shipment, i'm pretty confident they will be the only company with working Visa crypto cards in Europe and their prices will pop tremendously. If you are interested in being on that ship, now is the time to get on board.
TenXPay a sleeping dragon?TenX seems to be ending its wave 2 a while earlier. But impulse was delayed because of the drop in up to 200 million crypto market cap.
However, overall movement is still bullish. Ichimoku chikou span crossed the price from bottom up, indicating a buy signal.
If prices go back above the previous bullish trendline(before the FUD and panic), impulse might take off very soon.
Also, it's still forming a cup, as previously seen.
TenX momentum is usually slower so we might be looking at 2-3 months period for this.
Fundamentals, (their previous updates) indicates also that along that time-frame there might be some very pleasant updates.
So, various indicators overlapping and agreeing on a bullish outlook in 2-3 months.
Do give some pointers if you think i am wrong. I am here to learn from all you pros here.
Bullish divegence on PAYPay looks to be overdue for a run up. The MACD indicator looks to show a bullish divergence, which usually means a reversal is coming. Also, PAY has shot above the ichimoku cloud which is another bullish indicator. Pay is still on accumulation mode and the risk/reward is great. If it hits ATH it will about 9x. All in all I think this a great midterm hold.
PAY is coming close to a nice pay day!Identical pattern to MTL right now. only difference is we have a Gartley instead of a Cypher, plus no Dow confirmation. PAY will definitely start to rally if it picks up volume where the blue circles are. Once it peaks towards the previous peak, it will consolidate forming its flag or triangle. DYOR