Paxos Standard About To Drop Vs Bitcoin

12 Nis 2020

Paxos Standard (PAXBTC) looking bearish today versus Bitcoin... This analysis is true only when the daily candle closes and if it does so below EMA300 (0.00014143).

Right now prices are moving below EMA10, EMA50, and EMA300, with EMA300 being the strongest of the three EMAs mentioned above.

Closing below this level can almost guarantee a test of EMA200/MA200 (0.00012691).
Paxos moving lower.

Since Paxos Standard and Bitcoin move inverse to each other, this scenario actually happening is a bullish signal for Bitcoin.

Conditions for change
If the daily candle moves back up and closes above EMA10, the above signals become invalid.

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This is the analysis.
We read the chart... but we remain open to all scenarios, the market will decide.

Remember that it is not the same to do charting/technical analysis vs trading... This is not a piece of trade advice.

Thanks a lot for your continued support.

Namaste.