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ZPIV

PIVX approaching support... will the uptrend be compromised? Following the previous idea, which you can find below, the reaction to the zPIV announcement indeed was positive and yesterday price has made another surge by 30% over the Bitcoin, reaching btc 0.0002488 high. PIVIX has been trending up as expected, although now the correctional phase has started. Currently it is trading near 20k satoshis psychological support. It is also a strong technical support where two Fibonacci retracement levels are located. First is 23.2% retracement from the all-time low, and second is 78.6% Fibs from the 17 October low. While it could be the starting point of the uptrend continuation, PIVX yet to confirm it, by rejecting current support area, that is located between 0.0002020 and 0.0001960. But, price might break below, that will suggest more downside pressure being put on the PIVX. Next support is seen at 61.8% Fibs, that is 0.0001730. The key support is located at 78.6% Fibs that is btc 0.0001520. If price breaks below key support, the upside potential will be compromised while the long-term downtrend domination is likely to continue. In short, current support (around 20k satoshis) will be the decision-making area. It is important to watch current price action as rejection of the support should have a very positive outcome on the price. On the other hand, daily break and close below the 0.0001964 level will imply the downside pressure on the PIVX/BTC. Support: 1. 0.0002020 2. 0.0001965 3. 0.0001730 4. 0.0001530 Resistance: 1. 0.0002490
by CryptalDash
PIVX announcement on zPIV: market reaction aftermath PIVX has bottomed out on the September 12th, along with many other altcoins. It has tested btc 0.000126 at that time, while the RSI oscillator formed a bullish divergence. Since then price has been increasing steadily, but on the 29th of September there was a strong spike in trade volume, the highest since June. Price jumped up, producing a strong spike on a daily chart, while reaching the btc 0.00022 high. The strong increase in volume could have been the result of the PIVX announcement on the twitter, made on the 21st of September. PIVX has twitted about zPIV supply (twitter.com). It that twit, PIVX announced about the 25% of the total coin supply being placed in zPIV, meaning that ¼ of PIVX coins are anonymous and are ready for staking. It looks like market reaction was extremely positive to this news, although it took some time to react on. PIVX continues to trade upwards while priced producing higher highs and higher lows. It outperforms most altcoins in the recent days and today it is a top 1 gainer from the top 100 coins. PIVX has gained 3.36% as of now, while the bitcoin has lost 4.25%. The positive trend for the PIVX is very likely to continue, although it has to break above the resistance. The resistance is seen at btc 0.0002, which has been previously rejected multiple times. At the same time it has to break the downtrend trendline that still hasn’t been penetrated. The RSI broke above the descending channel suggesting further price increase. Nevertheless, perhaps it is better to wait for the resistance breakout before considering buying PIVX. When/if the resistance will be broken, price should grow towards one of the Fibonacci retracement levels, either 23.6% at btc 0.00027, or 38.2% at btc 0.00036. If resistance will hold, PIVX/BTC might re-test strong support at btc 0.00017, which is the level where most of the trading volume has been recorded since June. The downside risk should increase, in case btc 0.00017 is broken, and PIVX will likely test btc 0.00014 support. In summary, PIVX increasing trade volume showing the interest in the coin. Shor term uptrend remains valid, although to confirm further growth the resistance has to be broken. Support: 1. 0.00017 2. 0.00014 Resistance: 1. 0.00020 2. 0.00027 3. 0.00036
by CryptalDash
PIVX/BTC: New 300k Bull Run Support 7/77/343Overview: Using the setup and analysis (detailed below) we are projecting a continued bullrun with support towards 300k sats, with a new trading channel between 130k sats and 170k sats (the .618 and .382 Fib). The 7hr average is currently on an explosive upwards trend as it has punched past the downwards (orange line) BTC compression and the 77/343 averages, with increased trading volumes assiting the rise. CURRENT SETUP & EXPLINATION OF SIMPLIFIED CHART I use a 7/77/343 hour of trends (7-white, 77- purple, 343 - white cloud). Snapshots for Setup: 1) 7/77/343 Intersections First intersection: 4/22/2017 172k sats -0.25% Second intersection: 7/28/2017 75k sats -0.25% Third intersection: 10/8/2017 75k sats -0.25% 2) Line Setups - Upwards Trends (green lines): Using the intersections from above, plotting the first upwards trendline (from 1st intersection to the peak ATH), duplicating these lines through the other two intersections - Downwards BTC compression (Orange line). From the top of the ATH down through last crossing of 7/343/7. 3) FIB setup and support - From first junction to ATH, we see that PIVX rose to around 170ks (1), then corrected to .786, before fnally settling into a trading channel between .618 and .382 (green lines). Support for this period was consistent at the .236 (blue bottom line). We drew a blue dotted horizontal line to demark the prior ATH, and a red dotted line at the top (1.618) line. This is (interestingly) come into play in a few more snapshots :) 4) Intersection Trendlines (Purple) - Using the prior ATH and tracing a downwards line from this peak through the next intesection of 7/77/343 (Purple line, and then duplicating this line placing the same slope through the NEXT 7/77/343 intersection, we can (interestingly) see this intersects...almost exactly at the 1.618 fib line from above and the upwards green trend line from the nexus seperation. Highlighted with circle. Also notice the second upwards green line intersects this upwards purple line and prior ATH. This indicates a potential level of resistance, but if passed, will indicate a level of future support. 5) New ATH and trading channel - Fib from current position to the top (prior 1.618 line), we see a new ATH around 275-300k sats, with a new .618 line close to the prior ATH of 170k sats, a new trading channel between the .618 and .382 at 170k sats and 130k sats, and a new baseline .236 support around 90k-100k sats
Long
by SnappySnap
4
PIVX/BTC short-mid term analysis | Compression Release PendingOverview: Using the setup (detailed below) we see an emerging compression triangle over the next 1-14 days. The 7hr average is currently being compressed by a downwards BTC trend (orange line) and an upwards baseline support (green line). I expect trades to oscillate between this triangle for the next week before a major breakout emerges should PIVX 7 push past the 77hr and 231hr averaages. Currently, charts are showing downward trends for both 77 and 231. Should 7hr averages remain stable (or increase), expect a passing threshold around Dec 9th-10th. Upwards of 150k spike, with new floor around 70-75k Sats. Using a new zero floor at this junction (around 40k Sats), we see some interesting patterns emerging. Extending Fibs (setting 1 at the previous high), we see the 786 intersect the upper Trend support (yellow line passing from nexus through the second junction of 7,77,231) around 150k sats. We also observe a potential new baseline support around the 236 (70k sats), which interestingly passes almost perfectly through the previous two intersections of 7,77,231). CURRENT SETUP I use a 7/77/231 hour of trends (7-white, 77- purple, 231 - white cloud). Charting baseline support (~34k Sats) Nexus Separation (7,77,231): 2/8/2017 1500 sats First 7,77,231 intersection: 4/22/2017 127k sats Second 7,77,231 intersection: 7/28/2017 75k sats Third 7,77,231 intersection: 10/8/2017 75k sats EST 4th 7,77,231 Intersection: 12/9/2017 40k sats Downward BTC trend extends from Peak Price, and same trend placed through first 7,77,231 intersection. Notice the Path of 7 through this channel. Upward Support extends from nexus to current 7 / baseline support intersection.
Long
by SnappySnap
9