PIVX: Interesting upside vs BTC, and potential long term trade$PIVX has an interesting chart, here, it has a chance of evolving into a monthly trade, with 50-60x upside.
$PIVX is an interesting contender in the privacy coin field, at least as a potential 'fair' $DASH replacement.
Could end up being extremely rewarding to be positioned here.
Best of luck,
Ivan Labrie.
PIVXBTC trade ideas
Pivx VS Bitcoin Support RejectionFollowing the previous idea on Pivx vs Bitcoin , price corrected down but was stopped at 50% Fibonacci retracement level, that is 61k satoshi. Price failed to close below that level although it attempted to go lower, at the same time, the 200 Moving Average was rejected.
Therefore, after breaking above the triangle and the 200MA price corrected down and rejected the support. Such price action could suggest the beginning of the uptrend, sending the price up to the 166k satoshi resistance, confirmed by two Fibonacci retracement levels, 261.8% and 327.2%. This is the first strong obstacle to the potential PIVX/BTC rise and it is yet to be seen whether price breaks above or will reject it.
PivX broke downtrend, found support and pushing for 300% move?After a downtrend lasting through most of 2017, Pivx recently broke through the daily cloud and also broke out from the long term resistance line. The retracement after the breakout move found support on the previous resistance, the 50% fib line and also bounced perfectly off the daily cloud. Not only this but it also bounced off the 200 day EMA nicely at the same time. The daily stochastic RSI is oversold and turning strongly upwards indicating that the trend is shifting direction.
I've marked some potential sell zones in red. This has the potential for a 300%+ move from it's current position.
As always, make sure you have a solid position management, judge your own risk/reward and set sensible stops.
Pivx VS Bitcoin Has No Strength Following the previous idea on Pivx , it has reached the downside target and went lower. Although afterwards, price corrected up and reached the resistance at 87k satoshi. The resistance has been rejected, suggesting that PIVX has no strength against the Bitcoin.
PIVX/BTC is likely to go down yet again to test the 61.8% Fibonacci retracement at 52k satoshi. This level should play a key role in further price action, where the break below could lead to further weakness, but rejection could prove that Pivx might explore new highs.
At this point, Pivx is still weak and the only break above 100k satoshi could prove otherwise.
PIVX new market cycle2018 will be the year of Privacy coins. No one expected Verge to soar to 2 billion+ cap, but this sets the minimum valuation precedent for all the coins below that threshold. Pivx has held a nice retracement from its first market cycle, the 0.883 which is common. We notice a strong break of the downtrend and volume stepping in. Late buyers can hope to get filled in the 65-67k zone as we are currenly there and wicking down, catching impatient sellers who dont understand the big picture. Pivx is a clone of dash, with free and instant transactions, and the same masternode setup requiring a stake of 10k coins at a minimum. With decent liquidity and trading volume, we could potentially see this snowball as masternodes gain profitability in a price increase, and they natually promote a hodl environment. We could see potential top targets in the 400-750k zone, netting us a 500-1000% reward here. Growing community with a strong presence, Pivx is a clear buy here. The strong weekly stochrsi and the newly crossed monthly that if fully oscillates are out signs of momentum.
