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Rounded Bottom pattern idea for $SXP against BTCThis is a personal research and idea for investment. DYOR and TIT... This is Swipe $SXP coin against BTC pair on a daily chart . ABBREVIATIONS Rounded Bottom (RB) Parabolic Curve Theory (PCT) Price Action (PA) BTC (Bitcoin) T/K (Tenkan/Kijun; Blue/Yellow lines) Sats. (Satoshis) :::DISCLAIMER::: This is a mid-term pattern that will develop exponentially growing price action as it starts to close the cup. It has the characteristics of a PCT structure as it tends to range at key Fibonacci levels for PCT. As I'm looking at this chart and describing my idea I'm very conscious that events like news catalysts and BTC volatility can deviate it off its course and make price action break out of pattern invalidating or at least demanding a reassessment of the idea. TIME/PRICE PROJECTION Pattern start: Mid-Aug 2020 Estimated end: Early-Aug 2021 (almost 3 months from publishing) Price tag at time of publishing: 8,150 sats. Expected price tag at end of pattern: 36,700+ sats. Safe trailing take profit area: Recommended trailing take profit at 35,700 sats. TECH INDICATORS Ichimoku indicators: -Bullish Kumo cloud setup with PA on top of it. - Bullish Tenkan over Kijun Sen. - T/K cross up the first days of May, also bullish nuance. - Chikou lagging span heading towards PA, bearish nuance, probably due to recent correction. - Parabolic SAR on top of the PA, bearish nuance. PA has corrected down to the .500 fib from previous impulse move and is currently bouncing up as it closes in against the curved wall of the pattern. Trade at your own risk... NEWS CATALYSTS AND BTC VOLATILITY Technical paper will be released as of May 30th according to @Joselito, Swipe founder. Affected by BTC dips. EXPECTATIONS I expect a completion of the pattern if BTC doesn't pull PA out of pattern. If it does, this idea may need to be revisited. ATM there's a measured move if PA breaks out of the bull flag shown in the snapshot below. Measured Move equals about 605 profit. FINAL NOTE Drawing may need some minor adjusting as the pattern develops.
Long
by AponSOKS1978
Alternate CountThis seems like a possible count. $2.60 is the level that Must Hold for this to be right. Like I said before, I am not selling my coins that I bought at $5 And I will buy a LOT more if it goes to $3! xD xD xD Curious about the big volume in this consolidation though, which is part of the reason I don't want to sell. Large volume usually indicated a wave 3, which could mean we are already in the next uptrend and don't know it yet. Hence, HODL and buy the dip. Just my opinion though.
FTX:SXPUSD
by MonetaryRebel
1
$SXP is ready here with many others #Swipea perfect 1:1 abc correction swiped the lows and almost touched the GZ of the subwave 1. This was one of my previous options and with the rejection at the top of the subwave B and selling volume coming expected this BTC driven drop. There might be one more leg down but I dont see it going lower than the GZ highlighted. BTC can go into lower area as well. More importantly this is a perfect buy zone for SXP, and if it again touches the lower 4s its a no brainer buy into imo, with little downside risk. Potential is to the tens of highs could be significant from here. I expect a wave 3 from here in an impulse turbo mode.
BINANCE:SXPUSDLong
by tempertrade
#Swipe my roadmap #SXPThe ltf structure is in a descending triangle on #SWIPE, and I still have a few options how this can play out. My primary is the green line is that we break that triangle now upside and we are moving to the third wave in large. Alternatively if it breaks down it can go tap lower to compelte a subwave 2 of the larger wave 3 and still move up, or it can do a LL and only complete the larger Wave 2 before it heads up to the impulse. I am still holding and long with SL in, targets are above $10 for now. I expect that triangle to break up soon in the next few hours with retesting, then long more, will update on that on my twitter.
BINANCE:SXPUSDLong
by tempertrade