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STXBTC trade ideas

STX/BTC (Bearish Flag Confirmed)💎Technical Analysis Summary💎 BINANCE: STXBTC -STX confirms the bear flag a few days ago -The rising channel broke to the downside -If the bears can control this downward pressure -The potential target is somewhere 1000s sat level -That is strong support where we saw bullish price reaction A big Thanks for donating 💰 via Tradingview coins this week to CITIZENCAINE 🙏🎉 `````````````````````````````````````````````` Trading Involves High Risk ⚠️ Not Financial Advice 💸 Please Exercise Risk Management 💱 `````````````````````````````````````````````` Thank You All!🙏😊💖For Supporting My Channel 📺 Through Leaving A Thumbs Up, Comment & Follow 💬 Happy Trading!😊💕💖 ``````````````````````````````````````````````
by PolarHusk
11
STXBTC upward move possibleBINANCE:STXBTC is at an interesting point: It barely touched the 0.23 fib of the retracement. Should the volume rise and the support hold, than I expect at least 2359 satoshi as first target. With the break of the trendline, which has its start one year ago, I think we can see some further movement to the upside. Once we also break 2700 satoshi the sky is the limit: In this case it may reach as high as 3822 satoshi. T1: 2359 T2: 2700 T3: 3822 SL: 1391 FA is in favor of STXBTC: * Krypto release * PoX release * main net launch No advice, only my opinion. Happy about feedback!
Long
by narfi
STXBTC formed bullish reversal moves on supportMainnet launch: The Blockstack has a significant event of mainnet launch expected on 30 Sep or earlier. This event is also mentioned on STX coin’s roadmap. The Channel: The priceline of STX was moving in a parallel channel and finally broke out the resistance of the channel. Now the previous resistance is working as support and the priceline is re-testing this support again. It can be a double bottom formation above this support. Continuously harmonic moves: While the price action of Blockstack is at the resistance of channel that is working as support it has also formed continuously second harmonic bullish BAT pattern and entered in potential reversal zone. Strong resistance and SMA supports: The priceline has found very strong resistance at 0.00002519 btc that is not broken out since Nov 2019. After being rejected by this resistance level the priceline is at 100 and 200 SMA supports. Conclusion: The price action of Blockstack has several support levels like: the previous resistance of channel, 100 and 200 SMAs and the potential reversal zone of BAT pattern. Therefore there are strong chances that the priceline may start another rally to the upside from here. How ever we should use the maximum extent of PRZ of BAT pattern as stop loss.
Long
by moon333
1
This can be a perfect buying opportunityAs we have already discussed in my previous articles that the mainnet launch of Blockstack coin is expected on 30th September 2020 or earlier. This is one of the most significant upcoming event of STX coin that can lead the price action to start a very powerful bullish rally soon. The re-testing of channel’s resistance as support: In my previous article we have seen that the price action of Blockstack coin was moving in a channel and finally the price action broke out the resistance of the channel with a powerful bullish rally then started the new correction rally. At this time the priceline of STX is re-testing the previous resistance of the channel as a support. In case of successful re-testing the price action will start the next bullish rally otherwise the candlesticks can re-enter in the channel again. Therefore it can be a very good buying opportunity above this support. Priceline is likely to take bounce from SMAs: Now let's have a look on the different simple moving averages with the time period of 25, 50, 100 and 200 on the daily chart. It can be observed that during this correction rally the price action has broken down the 25 and 50 simple moving averages and at this time the price action is likely to take a bounce to the upside from the 100 and 200 simple moving averages at the same time. A new up trend line is working as support: If we place a trend-line below the candlesticks from January 2020 up till now then it can be also seen that the price action has found a strong support above this up trend line. At this time the price action has again bounced from this uptrend line. A bullish BAT move: Now I would like to show you a very significant move of the price action of STX coin with Bitcoin and US dollar pairs. That move is the formation of a bullish BAT pattern. If we dig this pattern more deeper then it can be observed that the all dimensions are driven perfectly as required for the BAT move. After initial X to A leg the price action is retraced between 0.382 0.50 Fibonacci retracement level. Then it is projected between point 0.382 to 0.886 Fibonacci projection of A to B leg. Then C to D leg has been retraced between point 0.786 0.886 Fibonacci retracement levels. And now the price action is likely to move up from this potential reversal zone of bullish BAT pattern. Bullish BAT move of STX with Bitcoin pair: Bullish BAT move of STX with US dollar pair: Conclusion: The price action of Blockstack is already at the strong support that is in fact the previous resistance of the channel. At the same time it is also getting bounced from the 100 and the 200 simple moving averages on the daily chart. And has formed a complete BAT pattern. All these moves are showing very positive gesture in the favor of bullish rally very soon. Therefore it can be a very good buying opportunity. However, we can use the 100 or 200 simple moving averages on the daily chart as stop loss. Because if these moving averages will be broken down then we can expect a further downward rally up to the support of the previous channel.
Long
by moon333
1
STX/BTC (Test Next Key Support @ 1300 sat?)BINANCE: STXBTC -Blockstack penetrated the potential support at 1700 sat range -The next key area to be watching is around 1300 sat -The RSI is near the oversold level, there is a chance of a bounce reaction -If the price reached this level wait for any reaction -Enter only once there are potential reversal signals -Analyze Bitcoin's next move also to predict the possible action in a few days **If you like my daily Published Ideas, Please don't forget to leave a thumbs up and comment below. Thank you!**
by PolarHusk
4