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Technical analysis of $PAY – TenX [03.10.2017]  

Daily

In daily chart we have a long-term downtrend channel. At the moment price is above middle line of this channel, I expect price to stay above and bounce from it in 1 week.  

There is also a smaller time-frame downtrend in which the price probably will stay [1h chart is below].  

Purple box is the bouncing area, if price falls below this area then we are bearish. Orange arrows are my price move expectations.  

In bouncing area there are also Fibonacci retracement level 0.786 and previous channel low.

Daily volume is low and below average, volume will increase when we are in bouncing area.  

TL;DR  PAY is bearish at the moment, expecting bounce from the purple area.  

Hourly

Price might have a small pullback from hourly Fibonacci retracement level 0.786, as shown with pink arrows.  

Overall trend probably stays bearish until we are in long-term bouncing area [purple area] (unless we break Fibonacci 0.618 level [≈0.00056000 btc]) .  

TL;DR  Might have a small pullback but overall trend is bearish for now.  
 

Trade safe! 
 

Extra stuff 

* Charting platform: http://bit.ly/2xL5l7Q 
* Twitter: https://twitter.com/IamFlanzen 
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Tuesday, October 3, 2017. 12:00 UTC