We can see from the hourly chart a descending wedge formation in the bullish trend; this is a typical trend continuation pattern. A breakout is possible with volume, make sure RSI and MACD support further uptrend movements.
There is a prior move that supports this trade, 30% move to the upside possible. Maybe more? Time will tell! If you are going to consider this one be very quick with your stop. The trade is for a bounce into prior highs. No shenanigans tolerated.
PAYBTC short term consolidation seems to be over, it bounced of the .681 Fib Retracement line and broke through the descending trend line.
If we see good volume this will be a buy signal.
This is unfolding as I chart it. Look for breakout of large triangle. Watch for fake-outs...there are many shadows on the highs and lows...a lot of volotility with the large volume. Big gain opportunity.
...but what do I know, I'm just a space suit engineer, not a trader.
Good luck!
As requested here is my re-evaluation of PAY.
for 30m it looks like we have a nice pennats pattern with the first candle close to breaking top of resistance.
The 1D RSI still looks strong wich make me think we still have one more push.
If we break up from the pennant we will have another resistance level around 1600. So that will be my first sell target, Once...
It is definitely harder to predict price patterns on these brand new coins, but Ima give it a try.
Here we see Fib from low to high. You'll also see some trendlines that have started to form and support levels I've drawn.
So, let's make heads and tails of this.
Fib. is self-explanatory. I've drawn it from around the low to around the high of this coin. First...
