TenX (PAY) Analysis: More Sideways Action or Impulse?

7개월 전

SUMMARY

On February 22nd, the below chart of TenX (PAY) was posted to provide a perspective of channel and patterns within it. The white arrow showed a potential price pathway and it had basically called for a lower low with sideways price action.

Curerrently, price has made incremental lower lows. It so far makes a close fractal to the price action after the blue wedge pattern and that's pretty much what the white arrowed line represents.

So, if PAY holds to the fractal, it'll likely mean more sideways action in price as shown by the blue rectangle. However, given how Bitcoin has been trend reversing; PAY could decide to impulse and I'm leaning towards this as the primary count probable.

Take a look at the daily MACD. While price has made a lower low, the MACD did not. This is a bullish divergence at the daily scale and provides strong support to an upcoming impulsive, trend reversing price action.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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Coins mentioned in post:

CoinPrice (USD)📈 24h📉 7d
BTCBitcoin9141.270$6.89%2.97%
EOSEOS6.198$6.08%8.53%
PAYTenX1.227$8.63%-5.33%
QAUQuantum0.152$4.03%-5.95%
WAVESWaves5.146$6.22%-5.57%
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I believe it will go up right after BTC goes up another 5% - my money is on a short sideways period and then very bullish

I have been a long follower of the TenX project but have stepped out of late because of the lack of news. But seeing this brings some hope back to an old favourite project of mine. Thanks for lifting this up again and i will take another look if there are some news coming that could trigger the moves that the graph might indicate.

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TenX is actually a wonderful project. Followed it since last year. The market will pick up soon enough the moment Bitcoin peaks up

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If you are interested in Bitcoin, take a look at my analysis too.
https://steemit.com/bitcoin/@goyapro/bitcoin-btc-update-two-positive-scenarios

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