Phoenix re-accumulates
Updated
Phoenix (Red Pulse Phoenix) is one of the alts I'm currently looking at. The price has been consolidating for 47 days in 215-280 satoshis range before the growth to 415 sats. Now the resistance of the previous zone serves as a support and we witness clear re-accumulation before the expansion.
Imho, buy below 300 sat is a good entry point. Expect the price to reach the low 600th sat. (TP2).
Note that it's not necessary for the price to break out immediately after you're in, accumulation always takes some time.
Imho, buy below 300 sat is a good entry point. Expect the price to reach the low 600th sat. (TP2).
Note that it's not necessary for the price to break out immediately after you're in, accumulation always takes some time.
Comment
Would like to see the volume increase during the bounce from 275-277 sat. The trade is still open.Comment
The trade failed. However, it is possible for the price to find some support within the previous accumulation area.Trade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.