MXC/BTC: Is this the most bullish chart in crypto right now?I've been watching MXC for a long time. Recently played some of this rapid rise but ended up taking profit too early. Well look who has a second chance.
I don't normally use anything lower than a daily chart for coins on Huobi because they can be illiquid and spiky. But zooming in from the daily for some detail I was struck by how much this coin really seems to want to go up. Look how it hugs the 8 EMA, grinding up and knocking again and again on resistance.
And why does it take so much force? Because this is a weekly resistance back from 2018:
This resistance is easily the strongest in its chart, certainly now we've flipped the previous strong resistance zone at 7500.
Above here, we have a couple of resistance zones but not strong ones. And look at the VPVR - all the volume is below. Clear skies above.
In terms of fundamentals, the project announced a partnership with the Sichuan government to help build their IoT infrastructure last week. I don't know how important this really is, but the market reacted pretty hard.
In summary, lots of potential upside left even after the recent huge move.
Trade safe!
MXCBTC
MXC | +225% Potential Profits | FREE TRADING SIGNALPair: MXC/BTC
Exchange: Huobi
Trade Duration: Medium
Risk: Moderate
Signal Strength: Very High
Introduction
The MXC vision is to introduce a systematic process to both simplify and increase IoT data transactions. The decentralized infrastructure upon which MXC’s system is based is the future of Low Power Wide Access Network (LPWAN) and the Machine eXchange Protocol (MXProtocol). Utilizing this solid device network foundation, MXC is introducing a unique coin offering, Machine eXchange Coin (MXC), which allows for increased data transactions and an idiosyncratic data flow monetization within the mammoth data market. MXProtocol places a keen focus on reducing collision between networks, constructing an inter-chain data market, developing a market for network coverage and introducing an independent Quality of Services (QoS) framework for both data providers and receivers. Individual network users, corporations and enterprises can all participate in the construction of decentralized, ubiquitous and secure LPWAN. Simply by connecting “anything” to the network, adopters will be able to profit and trade MXC.
See the attached chart for Technical Analysis notes
Fundamental Analysis
- Certified Blockchain IoT
- Strong advisory board (early NEO investors, Uber & Airbnb advisors and the Vechain CEO just to name a few)
- Partners with billion dollar organization; Stellar (XLM), Quarkchain, Huobi, Fenbushi capital, and others
- Only a $5M market cap - lot's of room for growth
Our Entry Zone
0.00000150 - 0.00000181
Our Targets
1: 0.00000270
2: 0.00000385
3: 0.00000487+
Our Stop Loss: 0.00000140 (dependent on your risk management, this could also be a long term trade/investment)
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Have a good day,
Axsonex Team
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DISCLAIMER: Axsonex are not registered financial advisors and no information we provide is intended as financial advice. It is our opinion and nothing more. This report is for informational use only. Trading and investing in Cryptocurrencies is extremely high risk. Ensure that you conduct your own due diligence before deciding to invest in any asset. We have not/will not be(en) paid to endorse this project. You are responsible for all actions you take as a result of reading/viewing this page. Sources used: trackico
