Paxos Standard Bullish | Full Analysis Long-term Targets (400%+)

9 Mar 2020

About Paxos Standard

Paxos Standard (PAX) is a stablecoin that allows users to exchange US dollars for Paxos Standard Tokens to 'transact at the speed of the internet'. It aims to meld the stability of the dollar with blockchain technology. Paxos, the company behind PAX, has a charter from the New York State Department of Financial Services, which allows it to offer regulated services in the cryptoasset space.
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Paxos Standard (PAXBTC) is now looking bullish and trading above EMA10, let's have a closer look at this chart.

My attention was directed at Paxos two days ago, my eyes just stopped on the pair and I opened up the chart... Right away I started to think that this might go up so I took the time to find out why. Now, this is a stablecoin and Bitcoin is looking bearish, so this is likely to go up... The next day I see a huge green candle and here we are.

Now, my suspicions became true and PAXBTC has multiple bullish signals in the making, let's take a look.

• First, when PAXBTC bottomed, BTCUSD peaked. This can tell us that these pairs are moving inverse to each other.
  
• Prices for PAXBTC conquered EMA10 and challenged EMA50.
  
• A clear reversal candlestick/signal was printed in the second week of Feb.
  
• So now we have Bitcoin aiming lower while Paxos Standard is aiming higher.
  

All the support and resistance levels have been fully and clearly marked on the chart with Fibonacci proportions.

The light blue area I call the "decision point".
Above this level, we look bullish while below it is bearish.

(Note: Prices can drop all the way down to 0.00009473 and we remain bullish if there is a bounce. If prices move and close below 0.00009473 then the above signals become invalid and the chart becomes bearish).

With all these signals in place and a strong and beautiful chart, we can say that Paxos vs Bitcoin hit bottom and is getting ready to grow.
Remember to always have a plan and if you decide to trade use a stop-loss.

Namaste.

13 Mar 2020

Catatan

TARGET:

1) 0.00014600 |Hit 12-Mar. (+15%)
2) 0.00016900 |Hit 12-Mar. (+33%)
3) 0.00019900 |Hit 13-Mar. (+57%)
4) 0.00024000 |Hit 13-Mar. (+89%)
*) 0.00026994 |Hit 13-Mar. (+113%)