ðļSignal Info: Bitshares
Rank: #76
Exchange: Binance
Direction: LONG
ðļAnalysis: Bitshares was mentioned on Sunday. I like this asset for the way it has been responding to the crash. I suspect this might be because of all the stable assets on the platform. Either way, things look great after charting it out tonight.
First off, pitchfork channel doesn't disappoint. Stunning reaction from the underside of the channel for deep bounce on the asset. Price reacted with a +60% bounce exiting the channel completely to the upside. Things then came back to settle in the upper band, and went on to start testing the support resistance in this zone.
Our PXI signals a buy on this 4h time frame, which conveniently aligns with a breakout from this channel. A micro rising wedge triangle has also been spotted and plotted out. That's double apex on the breakout, and a setup I would happily trade myself.
Going for a bit of a ladder entry on this one, to try and push the stop as far as possible into the lower band of the pitchfork channel.
ðļCurrent Price: $0.01450
âïļEntry: $0.01405, $0.01285
ðŊTake Profit: $0.01795, $0.02360
ðļStop Limit: $0.1190 (-11.5%)
PS - Like our work on Tradingview
Rank: #76
Exchange: Binance
Direction: LONG
ðļAnalysis: Bitshares was mentioned on Sunday. I like this asset for the way it has been responding to the crash. I suspect this might be because of all the stable assets on the platform. Either way, things look great after charting it out tonight.
First off, pitchfork channel doesn't disappoint. Stunning reaction from the underside of the channel for deep bounce on the asset. Price reacted with a +60% bounce exiting the channel completely to the upside. Things then came back to settle in the upper band, and went on to start testing the support resistance in this zone.
Our PXI signals a buy on this 4h time frame, which conveniently aligns with a breakout from this channel. A micro rising wedge triangle has also been spotted and plotted out. That's double apex on the breakout, and a setup I would happily trade myself.
Going for a bit of a ladder entry on this one, to try and push the stop as far as possible into the lower band of the pitchfork channel.
ðļCurrent Price: $0.01450
âïļEntry: $0.01405, $0.01285
ðŊTake Profit: $0.01795, $0.02360
ðļStop Limit: $0.1190 (-11.5%)
PS - Like our work on Tradingview
