As you can see, the symmetrical triangle was punched down. you can make short sales. Stochastic RSI and MACD confirm downward movement
The red lines represent the target points.
stop loss 3.40
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...
The Daily PIVXUSD is CERTAINLY my favorite chart right now.
As all the other coins have fallen along with Bitcoin, PIVX held up nicely.
The levels are clear here, and clear levels are the most important thing for good analysis because we know our stops and targets clearly. If this thing gets moving, it could easily 2x, 3x, or 10x it's price.
We had a huge base...
I 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...
I 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.
