NPXS / ETH Local channel in 22% increments. 2 phase cups. + 160%

3 дек. 2019 г.

After the Binance exchange removed the liquid pair to NPXS / BTC, and left the less liquid NPXS / ETH and NPXS / USDT, the price crashed for obvious reasons. As it is possible due to weak liquidity to lower the price and keep it at low values.

“Faith is killed,” when lowering the price, we see a huge volume of trading. Perhaps this is a manipulation (we bought it ourselves). Maybe - it’s really someone in the market bought a huge amount.

At the moment, the trading volume at the minimum values, the coin is not interesting to anyone, this is a good sign, this means that the main crowd of "weak hands" has already left the instrument.

It is important to observe or when the price rises, the trading volume and FUD news about the coin in crypto social networks will increase. Raising prices without volume is a bad sign. The price should rise and at the same time the volume of trading and interest among the crowd.

2 months, the price moves sideways in a horizontal channel + 22%. Which may turn out to be the 2nd phase of the shape of the cup (rounded bottom). It is also worth noting that this lateral movement can take an undetermined amount of time before a turn. There are no clear rules on time.

Pivot zones are important, the moment when the price goes beyond the side of the channel and is fixed - the channel breaks. The downtrend will continue to depend on these zones or it will continue to change when the channel breaks through to the uptrend and thereby gives the formation of 3 phases of the cup shape. In most cases, this pattern acts as a trend reversal pattern.

There are several options for trading this coin:

1) Trade. Channel trading in increments of 22%
2) Trade. The entrance to the channel breaks up at the beginning of the 3rd phase of the formation of the "Cup" figure. Profit potential around + 140%
3) Trade. Entrance when the price breaks and consolidates above the resistance of the cup (yellow zone). Profit potential + 140-160%

Stop Loss is used under key support levels during your entry into the market.