If you've been following my posts (and you should!), then you'll notice that I've kept pounding the table on this PIVX. I really think we are going to see a climb in PIVX to around 5-5.50 soon enough.
SIGNS OF STRENGTH:
PIVXUSD didn't crash like many other altcoins in August, rather it has held up near its highs around 3.50-4.00, and held an important support level at 3.00 several times.
The 200 day moving average has been trying hard to catch up, steepening even further without even a hint of leveling off or showing weakness. The overall trend is up.
If we do break out, the 161.8 Fib retracement is between 5-5.50 and I also think the 5.00 psychological level will come into play.
USING BITCOIN AS A BELLWETHER
What I really love about PIVX is also it's action against Bitcoin. If Bitcoin is the gold standard, and where the big money goes during Crypto Currency runs, then if something like PIVX is acting strong against Bitcoin, it only gives us more rocket fuel. And that's exactly what we see here. PIVX has broken out of this descending triangle consolidation pattern, and is bouncing higher off of the 200 day moving average. If PIVX can climb against Bitcoin, while Bitcoin is acting stronger itself, then this only improves our thesis that PIVX is going higher against the USD.
HOW HIGH CAN IT GO?
PIVX is a riskier play, so only invest as much as you can afford to lose. But technicals point to much higher prices in the future. I'm looking at anywhere from 7 - 13$. That would be minimum of 100% gains here. Definitely keeping my eye on PIVX.
-----------
!! PM me with any trading questions !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections, measured moves, support and resistance.
Successful trading means proper risk sizing and trading small so you can stay in the game.
SIGNS OF STRENGTH:
PIVXUSD didn't crash like many other altcoins in August, rather it has held up near its highs around 3.50-4.00, and held an important support level at 3.00 several times.
The 200 day moving average has been trying hard to catch up, steepening even further without even a hint of leveling off or showing weakness. The overall trend is up.
If we do break out, the 161.8 Fib retracement is between 5-5.50 and I also think the 5.00 psychological level will come into play.
USING BITCOIN AS A BELLWETHER
What I really love about PIVX is also it's action against Bitcoin. If Bitcoin is the gold standard, and where the big money goes during Crypto Currency runs, then if something like PIVX is acting strong against Bitcoin, it only gives us more rocket fuel. And that's exactly what we see here. PIVX has broken out of this descending triangle consolidation pattern, and is bouncing higher off of the 200 day moving average. If PIVX can climb against Bitcoin, while Bitcoin is acting stronger itself, then this only improves our thesis that PIVX is going higher against the USD.
HOW HIGH CAN IT GO?
PIVX is a riskier play, so only invest as much as you can afford to lose. But technicals point to much higher prices in the future. I'm looking at anywhere from 7 - 13$. That would be minimum of 100% gains here. Definitely keeping my eye on PIVX.
-----------
!! PM me with any trading questions !!
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, support and resistance.
Successful trading means proper risk sizing and trading small so you can stay in the game.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591