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.
@sickoftheshit, Yup! I studied BK and been using a lot of his principals. It's very, very solid.
jkphillips0111
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@SnappySnap, great job is it too late to get in and if not where do you see it going?
SnappySnap
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@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.