PIVX Strong BULLISH ChannelI really like this PIVX chart on the 60 minute. PIVX is one of the coins acting strong against both the USD and Bitcoin, and strength is good for bulls.
It reminds me of Litecoin's upward trending channel that recently exploded to the upside.
I expect price to continue in this upward trend with a target around the former highs of 4.50/4.60
Longer term on the daily chart, there is a big support level at 2.25. As long as we are above 2.25 then I think this PIVX is a good bullish bet. It could easily move to 10 or 20 in the future.
IF the price FALLS BELOW, the trend line and out of the channel I would reduce my position. Then if the price falls below 2.25, I would exit my position as the pattern is broken.
If the pattern is broken, don't fix it, move on to the next trade.
ENTRY: around bottom trendline
EXIT: around top trendline
STOP: below bottom trendline / long term - 2.25 support on daily chart
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!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
PIVXUSD trade ideas
PIVXUSD - Shows peak on its 4 Hrs chartI think PIVXUSD has reached its peak. Every indicator on 4hr chart shows beginning of negative trend. I think it will rest for a while before it strikes back. I would sell at this point.
Disclaimer: This is just my opinion based on technical analysis. Trade at your own risk.
