PIVX Descending TriangleIn this case I'm going to consider this pattern to be bullish, since downside potential is limited and there has been an extended period of consolidation. PIVXBTC has been rather resilient, in terms of USD. If PIVX can break out of the triangle, upside potential could match the length of the first touch, marked as a red line inside the triangle and copied to the target area. Coming out of the triangle, there will be immediate resistance at 38.2 and 50 fib levels but with momentum and volume, the target will be .0014BTC. Lacking volume, we will see further consolidation and accumulation while we wait for a new pattern to emerge.
Pivx
PIVX/BTC Trade IdeaPotential to make a lot of gains on this one. We're waiting for PIVX to either bounce off the current support line, or test it and bounce from the 0.618 Fib level. It seems to be obeying Fib levels really nicely and I'm hoping its no different on this occasion. If it does bounce from the Fib level, the I will look to buy in once the price has confirmed that it has broken back up above that support line. This level has already been tested once before so I' hoping it is able to bounce from it to confirm it as a solid major resistance level. The current ascending support line isn't much to trust as it is using the current price as the second point of contact, meaning that it shouldn't be used to guide our trade. Would love to see the price hit the 0.382 Fib level before taking any profit. If price breaks both current support and the 0.78 Fib level then we will reassess and start again
$ARK — it has that name for a reasonI'd say this chart speaks for itself. This coin popped up on Bittrex in the halcyon days of March 2017, back when $ETH was still under $50. It pumped, but like $CRW, didn't go crazy moon-time like $STRAT or $PIVX did. Instead it established the beautiful fractal pattern you see here. The longer they accumulate, the harder they... distribute? is that how it goes? Anyway, it's called $ARK for a reason: you're gonna wanna get on this boat.
PIVX, scale in opportunityLooking at the 4h chart, there are no indicators for an immediate breakout, but the price is getting very close to the bottom trend line as well as the bottom part of the support zone. Considering the fundamentals of this coin and a number of master nodes that hasn't changed since the big pump I doubt the price will break the support zone and I decided to scale in with 5% of my overall portfolio and set my buy orders within the 50-55 range. If it doesn't touch my orders due to a sudden change, I will miss the opportunity - however, if the price goes below the support zone, I'll cut my losses. The target is to scale out at 70-75 range with a possibility of 25% returns. The approximate ratio is 1:2.5.
The reason I believe that my orders will be filled is that I find the current momentum being in favor of some other trending alts, therefore this coin might be slightly under the radar.
Happy trading! :)
PIVX mapPivx saw an organic growth after a huge rise before the bullish month of May , this is one of the most stable coins, and one of the few that was least impacted by the crash of the market two months ago, I think it is not far from exploding and is still under the radar.
This is not a financial or investment advice, do your own research , im not a professional.
