Paxos Standard Is Ready To Move 40% or up to 112%Paxos Standard (PAXBTC) is now showing multiple bullish signals and a clear bullish breakout is about to take place.
Let's start by looking at the chart patterns and signals.
1) We have the "Cup pattern", which is bullish in nature.
2) We also have the "3 Heads pattern" which is also known as "Inverse Head & Shoulders", also bullish.
For the chart signals...
1) Prices recently conquered EMA10 and now moving above EMA50 (big bold magenta line).
2) Bullish divergence with indicators.
3) Increasing green volume with a bullish MACD.
4) RSI Trending up strong.
All these are pointing up.
If Bitcoin continues to drop, Paxos Standard will continue to move up and vice versa.
This is not financial advice.
Remember to always diversify between exchanges, pairs, and trading types to reduce risks and maximize profits.
Always take your time before jumping into any trade/pair, there are always more and more opportunities developing.
We saw many really strong opportunities just a few months ago...
We can literally forget those since many new opportunities are now showing up.
When one door closes, another one opens up with the contents in it better than before.
Remember to hit LIKE to show your support.
Namaste.
Paxosstandard
Paxos Standard Enters Bullish TerritoryPaxos Standard (PAXBTC), which we use as a reverse indicator for Bitcoin (BTCUSD), is now looking bullish.
First, we have the long wick on June 14.
This signals the first attempt to change the trend.
We have prices moving above EMA50, while EMA10 has been conquered for a few days.
The MACD is now on the bullish zone and the RSI above 50.
PAXBTC moves inverse to BTCUSD.
With Bitcoin bearish, Paxos Standard now looks bullish.
This is not financial advice.
Thanks a lot for reading.
Namaste.
Paxos Standard About To Drop Vs BitcoinPaxos Standard (PAXBTC) looking bearish today versus Bitcoin... This analysis is true only when the daily candle closes and if it does so below EMA300 (0.00014143).
Right now prices are moving below EMA10, EMA50, and EMA300, with EMA300 being the strongest of the three EMAs mentioned above.
Closing below this level can almost guarantee a test of EMA200/MA200 (0.00012691).
Paxos moving lower .
Since Paxos Standard and Bitcoin move inverse to each other, this scenario actually happening is a bullish signal for Bitcoin.
Conditions for change
If the daily candle moves back up and closes above EMA10, the above signals become invalid.
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This is the analysis.
We read the chart... but we remain open to all scenarios, the market will decide.
Remember that it is not the same to do charting/technical analysis vs trading... This is not a piece of trade advice.
Thanks a lot for your continued support.
Namaste.
Paxos Standard Looking BearishYesterday I looked at the Paxos Standard (PAXBTC) chart and saw some bearish signals, this told me that Bitcoin (XBTUSD) was about to move up... And so it happened.
Right now I am seeing some bearishness on this chart, seeing PAXBTC go down is another signal that Bitcoin can easily go up.
Conditions for change
If prices move and close above EMA10 (0.00015371), the above signals become invalid and prices can continue higher.
Thanks a lot for reading.
It's been a wonderful day.
Thanks a lot for your continued support.
Namaste.
