SXP
SXPBTC simple analysisIn a rising channel bouncing of support, broke out of a falling wedge, maybe one leg down before blasting off.
SXP 30/08/2020Stayed tuned for my upcoming release 'SXP: Why Do You Hate Me', in all good record stores soon.
but also this:
SXP ROADMAP // FIB CHANNEl // TIMELINE ANALYSIS4$ 31st August
10$ 10 September
30$ 17 September
* Best case scenarios
SXPThe Content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. This is not financial advice nor am I a financial adviser. :)
SXP has the same chart pattern with the previous break outWhen I analysis the SXPBTC chart I have noticed that it has the same trend. Chart is short for further analysis but what have is enough to say that ;
1- bullish pennat of the chart has been broken up
2- RSI has drawn the same pattern
3- Cumulative Volume Index has drawn the same pattern
So it is an interesting similarity to share with you. In my opinion SXP can has another leg up from here.
3.2 Tapped. More orders to be filled at 3.0There are few crypto coins that I am long on and this one is one of the major coins. Binance-owned alt. Will keep on stacking up until 6 to 6.5 as the long term RR is safe.
SXPUSD - Consolidation & Expected Trend ContinuationThe recent correction in SXPUSD was part of a market wide event triggered by volatility in BTCUSDT . We have now been squeezed into a range bound consolidation.
Potential outcomes in the short term:
Remain range bound and essentially pegged to price action on BTCUSDT . Prevailing uptrend loses intensity, but not necessarily invalidated.
Maintain prevailing uptrend and breakout of consolidation zone. Retest of local high around 5.0 if trendline support is respected , otherwise establish new range at higher bounds.
Break below bottom of consolidation zone and break current market structure. New range established at lower bounds.
I have been accumulating at the bottom half of the range and selling in the top half. This is also, IMO, a good long term hold.
Long term trend for BTCUSDT is looking bullish as it recently broke out to the upside on a long timeframe wedge, and it is likely to bring alts along for the ride.
