Pundi X (NPXSBTC) Forms Two Bullish Patterns (Learning)

Good Saturday my beloved Trading View readers, supporters, traders, and eternal living souls... Here I want to show you two different bullish patterns that came up on the NPXSBTC chart.

We have an active trade for this top altcoin project which you can find here:

This trade has already generated over 30% profits for us and is now in consolidation phase until the next move.

What we do is that we wait patiently, we are strong advocates of patience when trading (and everywhere else) until the next move happens. We are always open to seeing the price go either way and we are prepared for any outcome.

Now, back to the bullish patterns for learning and entertainment purposes... Let's get started.

1st BULLISH PATTERN is an Ascending Triagle

"An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The breakout can occur to the upside or downside. Ascending triangles are often called continuation patterns since the price will typically breakout in the same direction as the trend that was in place just prior to the triangle forming."

2nd BULLISH PATTERN is a crossover of EMA10 and EMA50

Additional signals:

• MA200 (black line) will work as resistance when NPXSBTC moves next.
  
• For NPXSBTC to move up strong, this is the first level that needs to be broken. On the break, we look for a big green candle with good volume.
  
• If it fails to break it, EMA100 (blue line) will work as the immediate support at 18 satoshis, followed by EMA50 (magenta line) at 16 satoshis if EMA100 does not hold.
  
• A bounce, or new analysis if price continues to go lower, is later expected from the second support.
  

This is a quick educational post, and trade update, for NPXSBTC.

If you enjoyed this post, feel free to hit LIKE anytime you like or even now.

Thanks a lot for reading.

Namaste.

Comment:

Here is another bullish crossover. This time I am using MA25 and MA99, these are on by default on Binance:

This signal points to an upward move. It can be invalidated, as always, but it is normally a very accurate and strong signal.

I am wishing you a great weekend.

Namaste.

Comment:

Next target is 23 satoshis.