This is an update to a trade that began much earlier in the month, which is linked below.
We just had the parabolic event that I predicted would happen if be broke the long term resitence . We reached the 1.6 fib extension by hitting just under $2.
We in for a quick correction before heading back up. I've marked a rough rebuy zone for those who got out too early and want to get back in.
As I noted in earlier posts. With linear growth (if NXT stayed in the main channel) we could expect a final price of $1.40-$1.60 on the 27th/28th, when the Ingis airdrop snapshot is taken.
If we broke the long term resistance , I calculated a top price between $4 and $6 - I'm holding tight for the snapshot https://www.jelurida.com/ico
There is a chance we could get stuck in the old channel and end up with a final price at the air drop of about $1.5.
However, re-breaking the top of the old channel would be a really strong buy signal given all the rest of the data and fundamentals.
Side notes beyond charting:
1. Some people (unwisely) sell all their altcoins when BTC goes up and sell all their BTC when they see and altcoin up 50%. The problem is that they are always behind the market, buying high and selling low. Do this enough times, and you will have no money left.
2. Others have stop loss orders which trigger other people's stop losses. This is all normal and healthy, even though the dips can be frightening.
3. If I were an accumulator with many NXT coins but few morals, I'd want to scare the market into selling, so I could buy more NXT cheep today. One way to do this is to dump my own NXT, trigger other people's stop losses, and have rebuys in place at a lower price to buy back my NXT and their NXT for less than I originally spent.
I've been in NXT long enough that this is not a matter of will I make a profit it's just a matter of how much profit I will make.
I feel no FUD
I am Zen
I am sticking to my plan
"I'll cash out around 1/3 at whatever I calculate the probable high to be on the 27th (my timezone) 28th UTC. I'll cash out another 1/3 just after the snapshot. I now plan to keep 1/3 to help out NXT since they made me such a ridiculous profit this month. I'm also planning on adding the free Ingis to my long term portfolio and buying some Ardor to add to my long term portfolio."
Why peek and then peter out?
A couple of ideas.
1.The whole crypto market went into correction following BTC
2.The whole rebirth of the Segwit2X hard fork scheduled on the same day as NXT snapshot split the free coin crowd
3. The good folks at NXT decided to cash out theirNXT from the Ardor ICO at $2 and sapped the momentum
4. Cyrpto be crypto