PIXFI — Bottomed And Ready For A Reversal?

After six days of trading, Pixfi has finally bottomed and tried to reverse. Here are the details:

➡️ Pixfi found support at the level slightly below 0.04. At least on the 1H and 4H charts, this level was tested twice (shown as 1 and 2 in the chart), and it bounced both times. Therefore, it is likely that this area will act as an essential level in the future.

➡️ Additionally, Pixfi broke out of its strong downtrend (shown as 3 in the chart). This was essential since Pixfi has been rejected at this level several times in the last few days. Moreover, at least on the 1H chart, it re-tested the break out successfully — a further (vital) sign of reversal.

🔍 What's Next
Most importantly, Pixfi has to confirm the outbreak on the daily chart. A positive confirmation can lead to more bullish momentum. Nevertheless, I consider the risk too high in terms of trading due to the lack of historical data.

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