Long
NANO/BTC - Ascending Triangle Formation
Updated
Hello! I'm a new trader here who barely knows how to make charts and analyses. I'm Kyurico, and here is MY idea.
Disclaimer: I am not a professional trader and analyzer and would not advise you to trade my ideas unless you are willing to risk some of your BTC. This idea is only to inform others of a possible analysis and trend.
Today, we are taking a look at NANO/BTC.
Strong coin, strong team, and it definitely has momentum!
Here, we have a coin that broke out again after a previous breakout. This breakout that put NANO out of the downtrend, and it now in the uptrend. This allows us to find an entry point that will give us the most profit without doing any bit of trading.
This coin had a breakout out of its bullish descending triangle as expected (that it formed over the course of two days).
You can now see that NANO is positive in its MACD and is in the overbought side of the RSI. Do not let spikes to the downside scare your investments unless it is clear that it is going into the downtrend once again.
It was a decent profit for anyone that noticed it. Now that it retraced a bit after that breakout, it looks to me that it is forming a bullish ascending triangle. NANO is making higher lows and the highs are going to be roughly the same.
I believe it is going to trade in that pattern that I drew for at least 12 more hours before another breakout to make a higher high (previously set at 0.0083)
I would buy in NANO when it touches the bottom the ascending triangle, and sell it again, when it breaks out, or touches (or almost touches) the top of the ascending triangle.
-Kyurico
Disclaimer: I am not a professional trader and analyzer and would not advise you to trade my ideas unless you are willing to risk some of your BTC. This idea is only to inform others of a possible analysis and trend.
Today, we are taking a look at NANO/BTC.
Strong coin, strong team, and it definitely has momentum!
Here, we have a coin that broke out again after a previous breakout. This breakout that put NANO out of the downtrend, and it now in the uptrend. This allows us to find an entry point that will give us the most profit without doing any bit of trading.
This coin had a breakout out of its bullish descending triangle as expected (that it formed over the course of two days).
You can now see that NANO is positive in its MACD and is in the overbought side of the RSI. Do not let spikes to the downside scare your investments unless it is clear that it is going into the downtrend once again.
It was a decent profit for anyone that noticed it. Now that it retraced a bit after that breakout, it looks to me that it is forming a bullish ascending triangle. NANO is making higher lows and the highs are going to be roughly the same.
I believe it is going to trade in that pattern that I drew for at least 12 more hours before another breakout to make a higher high (previously set at 0.0083)
I would buy in NANO when it touches the bottom the ascending triangle, and sell it again, when it breaks out, or touches (or almost touches) the top of the ascending triangle.
-Kyurico
Note
Early breakout?...Note
The target that we want to reach is 0.00085Note
Updated Idea...Note
Updated on projected pathNote
It's a good time to lock in so profits while you can and buy back later... there should be a retrace in the next hour or so.Note
Note
NANO fell way too much due to the massive increase and drop in BTC, we will wait until something happens to NANONote
NANO should trade between the lines drawn in purple. Failure to breakout would mean more downside for NANO.
Note
Predicted movement for NANONote
Looks like a small, but bullish descending triangle has formed over NANONote
The bigger picture looks like a large bear flag, with a drop waiting to happen... I would be careful with this nowTrade closed: stop reached
NANO looks like it has fallen...
Disclaimer
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