TenX Pay Token (PAY) has been proven to be a very solid coin. It normally goes against Bitcoin, meaning, when Bitcoin goes down TenX tends to go up, and when Bitcoin goes up TenX tends to go down. With Bitcoin losing momentum, this might be a great a time to take a closer look at TenX Pay… but this isn’t the only indicator, I have a fundamentals based trade for you today. Let’s take a look… let’s trade!!!
I started a long term trade for this coin back in December 4 2017, so far, it is still looking solid and even with the very deep and strong market wide correction, the price swings for PAY has been small compared to many of the coins available on this market.
There is also rumor that PAY is going to be added to Binance. It actually looks like a Binance friendly coin. This can give a nice boost to our trade if this comes to happen (this hasn’t been confirmed, do not take this as a signal but rather just as a rumor that might come true).
News: COMIT NETWORK is being released, a new platform linking cryptocoins together for payments. (I received this tip from a very good source that only trades on fundamentals. He is strong on PAY based on coming news). More info: www.comit.network.
Plus some events coming soon where TenX Pay Token (PAY) is relevant…
– 12 February 2018 (Bitcoin Singapore Meetup)
– 16 February 2018 (Bitcoin SuperConference)
– 20 March 2018 (Token2049 Hong Kong)
– More on the 28th and finally a new card issuer on the 31 March 2018. (TenX Pay Token issues a debit card that can be used with many different cryptocurrencies)
This will be a long term trade, for a strong and long term coin with a real and useful product.
Let’s look at the trading instructions first and then we can move to the indicators and signals (this is more of a fundamentals based trade rather than chart indicators, but we will still take a quick look at those).
TenX Pay Token Trade Analysis by Alan Masters
Buy-in range: 0.000190 – 0.000245
Long term targets:
(6) 0.002702 (New all time high)
Medium term targets:
Short term targets:
(1) 0.000176 (short term)
(2) 0.000144 (medium term)
(3) 0.000101 / None (long term)
Trading strategy: You can aim LONG on this trade. Regardless what happens to the market, TenX Pay Token is a strong coin with a real and useful product. Feel free to use any of the targets above based on your preference for a short, medium or long term trade.
Trade signals & indicators
Let’s start by looking at the daily chart:
- PAY has been consolidating forever. The overall chart shows huge potential for growth, and it also shows that this coin is really strong.
- Order book on Bittrex looks great. There is huge support on the lower end of our buy-in range and not much resistance going up.
- Strong positive news coming, strong developers, team and more. All these factors start to gives us the confidence that we need to trade this coin for LONG, now let’s look at something more technical, the indicators are turning bullish and also allow for plenty of room for growth.
- The MACD has been going sideways forever, accumulating for months. It is not on the bullish side yet, on the daily chart, but as I just mentioned, there is room available, lots of it, for growth. On the shorter time frames, 1h, 2h and 4h, we can see that it is going up. This is good, as long time frames normally follow the short ones.
- The other indicators are either flat, going sideways but all showing room for growth (on the daily, shorter time frames are looking good already). So with all the positive news coming, momentum can build up and the picture can change for the long term.
- The weekly chart fully allows for massive growth. We are a bit early to the party, but early is good when it comes to cryptocoins.
So again, this trade is more focused on fundamentals. Once these news start to develop, we know that the cryptocurrency markets love news, we can expect momentum to build up (as it is already building up right now) and use this to ride this wave up.
Note: This is our last trade until the markets stabilize completely. It is too risky to trade within these markets. I don’t like to see or share trades that can lose. It is no fun and money can be lost. So patience is advised until we return to the market that we really want. Many opportunities will be available, hundreds of coins will be waiting at the bottom. Waiting for us to buy them, before they go up.
Dedication is when you want something, with or without the support of the world.
When you strive to get it, putting your mind, soul and body, into it. Giving it everything in order to fulfill your goals.
Dedication is not about hard working or hard work. It is not about meditation. It is about achieving, regardless of the method, everything that you want.
It might require concentration and hard work, yes, but that is not what dedication is. Dedication is the feeling that it can be hard, easy or long, no matter what happens, you enjoy the ride, in the end you will always win.
I am dedicated to sharing with you what I think can be profitable, for you and me.
My dedication makes me happy, because I know for sure that we can both win.
Me and You my friend. Now & Always…