NXT did a nice move up and is currently consolidating and forming a bullish continuation pattern.
Current price action is indicating accumulation. 2 sceniaros from here:
1) a possible break out to the upside for a run towards at least 0.00075. Wait for the breakout to buy, put an alert on the upper trendline. Dont buy now because of scenario 2: 2) a completion of ABC correction because of the bearish divergence in MACD. Wait for a break out to the down side and buy near the blue box for a much better profit run to 0.00068 at at least.
I will try to update when important moves happen.
Happy trading!
Kommentar
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Update: price bounced of from the upper trenline and went down....broke to the downside and the retest failed. Looks like we might see some more downside, forming a smaller ABC. Moved the blue box a little bit up
Kommentar
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Scenario 1 seems to be playing out. Price broke out to the upside suddenly. I would advise to wait for a pullback from this sharp upmove. RSI almost overbought on 240. Target still valid.
On 4hr we're still very much inside a clear bullish continuation pattern. Target by measured distance method + previous swing high.
crypticsarah
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@d3ssy, exactly longer the time frame , stronger the pattern confirmation.
naserboss
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It will never never get down to your Point C , Scenario 1 is most reliable. On 25 December you had to keep you NXT until 28 december to get IGNIS coin. The current price of IGNIS is 1,5dollar . So NXT till keep rally , no one want to miss the IGNIS party
@naserboss, It's not the IGNIS price, it's the IGNIS futures price... So no guarantee whatsoever AND such small volume on HitBTC it can EASILY be manipulated.
What if whales trying to lure newbies and than dumping hard right before snapshot?
brammb
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Hey Ed,
Do you have any thoughts on a new cycle for NXT?
TauCeti
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@Crypto_Ed Do you think that NXT have chance for more highs?
PollysCracker
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this one has done quite well :)
fxEAcopyCOM
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Hi,great stuff as always. what do you think about SUB?