SnappySnap
Panjang

PIVX/BTC short-mid term analysis | Compression Release Pending

BITTREX:PIVXBTC   Pivx / Bitcoin
Overview:
Using the setup (detailed below) we see an emerging compression triangle over the next 1-14 days. The 7hr average is currently being compressed by a downwards BTC             trend (orange line) and an upwards baseline support (green line). I expect trades to oscillate between this triangle for the next week before a major breakout emerges should PIVX 7 push past the 77hr and 231hr averaages. Currently, charts are showing downward trends for both 77 and 231. Should 7hr averages remain stable (or increase), expect a passing threshold around Dec 9th-10th. Upwards of 150k spike, with new floor around 70-75k Sats             .

Using a new zero floor at this junction             (around 40k Sats             ), we see some interesting patterns emerging. Extending Fibs (setting 1 at the previous high), we see the 786 intersect the upper Trend support (yellow line passing from nexus through the second junction             of 7,77,231) around 150k sats             . We also observe a potential new baseline support around the 236 (70k sats             ), which interestingly passes almost perfectly through the previous two intersections of 7,77,231).

CURRENT SETUP
I use a 7/77/231 hour of trends (7-white, 77- purple, 231 - white cloud).
Charting baseline support (~34k Sats             )

Nexus Separation (7,77,231): 2/8/2017 1500 sats            
First 7,77,231 intersection: 4/22/2017 127k sats            
Second 7,77,231 intersection: 7/28/2017 75k sats            
Third 7,77,231 intersection: 10/8/2017 75k sats            
EST 4th 7,77,231 Intersection: 12/9/2017 40k sats            

Downward BTC             trend extends from Peak Price, and same trend placed through first 7,77,231 intersection. Notice the Path of 7 through this channel.
Upward Support extends from nexus to current 7 / baseline support intersection.


please can you share any YouTube video for this kind of analysis .... great job .
Balas
Translation: Pivx to the mOooN!
Balas
Ya spot on, lots of short term spikes on Piv as the big buys go in, that candle last week was 4/5s the size of its entire usd chart
Balas
SnappySnap Nom_de_Guerre
@Nom_de_Guerre, Thanks for the feedback! This is my "first" ever chart I pushed live.
Balas
@SnappySnap, Very styley chart bro, nice to look at and in depth analysis, plus you're dead right about Pivx, I'm already loaded up *)
Balas
sickoftheshit SnappySnap
@SnappySnap, using BK method is 't it ?
Balas
SnappySnap sickoftheshit
@sickoftheshit, Yup! I studied BK and been using a lot of his principals. It's very, very solid.
Balas
jkphillips0111 SnappySnap
@SnappySnap, great job is it too late to get in and if not where do you see it going?
Balas
SnappySnap jkphillips0111
@jkphillips0111, Depends on what you think "too late" is. the 7 is still below the 231 (on the long term chart view)....so, that tends to indicate there will be some swings up and down as that wedge compresses more.

Personally, I'm (as I said above) looking at a new floor around 70k sats (we are currently sitting around 45k). That's a decent jump.
Balas
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