TenxPay Technical Analysis | Symmetrical Triangle about to breakout

cryptokraze (72)in #bitcoin • 7 years ago

CryptoKraze here

In this post I am going to cover technical analysis of TenxPay for medium term trade. I am using tradingview charts and price linked to Bittrex exchange. Let' have a look on technical aspects of TenxPay.

Possibility on 4 hour Chart

If you look at 4 hour chart, you will see TenxPay has formed symmetrical triangle. This is very common pattern in crypto currencies, whenever a coin makes this symmetrical triangle, a breakout is imminent. If we look at RSI, it is ranging in mid level and have good space for breakout that is what I am expecting.

I will have a buy entry at 0.00030550 with my profit target will be around 0.00042300 or above.
Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.

Have a look on my other Posts
Bitcoin Correction Almost Done - Get Ready for Boom
Averaging Technique in Crypto Trading

If you like my posts and analysis and want me to add analysis on more cryptocurrencies, let me know in comments and I will add analysis

Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose.

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