SXPBTC trade ideas
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.
Today I took a trade SXPBTC, one for the longer termToday I took a trade SXPBTC, like my KAVA trade this is one for the longer term. I expect lots of alt coins to go up significantly, I want to be in there to gain more Bitcoin.
Previous resistance turned support and there is a breakout of the bull flag/pennant.
The EMA 21, 50 and 200* are respected.
(*I trade on Binance, and because there is less history, the EMA 200 is not correct. To see the correct EMA 200 look at Kucoin. Then you will see that the EMA 200 is between EMA 21 and 50)
The previous high of SXPBTX is around +525%
My stoploss is 1 ATR under the previous low at 0.00005437
SXP/BTC DOWNTREND PARALLEL CHANNELHello people!
SXP/BTC chart looks like after this DOWNTREND PARALLEL CHANNEL another breakout will come. I will look for a new long option after this breakout with confirmation :-) are now in the 4 hour chart already failed at the resistance times but the breakout will come. But it does not look so bad. In SXP/USD today we have already seen a very nice PUMP, think that we soon break out in SXP/BTC :-)
Good luck with the trade :-)
Registration link for PHEMEX EXCHANGE:
phemex.com
Registration link for BINANCE EXCHANGE:
www.binance.com
Registration link for IMBA EXCHANGE: imba-exchange.co
YOUTUBE CHANNEL from EGALITE:
www.youtube.com
Homepage: egalitesignals.com
EGALITE
SXP FINAL CALL TO BULL RUN!! || %130SXP this time it is ready to run. I knew that it is the biggest scam and connected with binance so it means they let you sell your coins then pump hard as it happened BnB. This time everything looks good to run. There is news about it on the internet and also CZ kinda gets them into the game by his Twitter acc.
Cup and handle
Golden Cross
Macd
and the most important is the news and social media power.
If it will not run this time :) ıt will prove that it is the biggest scam :) one more time
please like and comment below.
