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 build from April to August and now it's broken to the upside. The bigger the base, bigger the breakout - it's like rocket fuel.
If PIVX closes below 3.00, then it's a lost trade, but until then, this is one of the strongest patterns out there.
Remember, technical analysis is more about finding clear levels to trade against. High reward targets and low risk stops mean we can make more than a few mistakes and still come out ahead. A trader with a win percentage over 50% is just a lucky trader. But the best traders win 30-40% and come out ahead because they have good reward to risk ratios.
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!! 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.
Didn't work out the way you planned. Although previous resistance at 78.6% now became support. The question now is if it'll hold.
BerlinTrader591
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@MoeB_712, Exactly, right now that 3.00 level is a pretty well tested support. If it holds I still think we see higher prices. If it fails, then sign of a weakness. However the longer term uptrend channel is still intact. I'm holding my position until that channel breaks.
BerlinTrader591
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Your right. I am also trading it via Bitcoin but basing my trades against the dollar
jppol
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@BerlinTrader591, ok so how do you convert the targets in BTC as it evolves on its own along the trade ?
jppol
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Hi there,
thanks for the trade, quick question : PIVXUSD does not seem to be available on bittrex, does it? I can only find BTC-PIVX.
Am I missing something? Thanks!
MoeB_712
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@jppol, Bittrex keeps track of the USD value of cryptocurrencies even though it is not traded. There are only select few USD pairing you can trade. Everything else is BTC.