NXTBTC
has found support is preparing for another breakout. After the initial breakout/reversal was made after the post-IGNIS airdrop dump and stopped by the 100MA on the Hourly, NXT has squeezed its way back to the 100MA forming a wedge/triangle in the process. If you are not currently in next, this is a great early entry for a breakout trade. The whole market is beginning the year off on a rally and NXT is going to want to catch up after falling behind the rest of the alts. From where I'm standing, this looks like the completion of a 2nd Elliot Wave which mean the next leg up is going to be a big one. Check out my telegram channel for trading tips, signals, updates and more: t.me/cryptoswitch
Comment:
Breakout Denied by BTC rally. Bounce here is likely but BTC is out for some Alt blood so be careful here.
Comment:
This could be a possible bottom on NXT. This is where the dump post IGNIS ended and now this is where price is resting after failure to breakout. MA congestion suggests that a strong move in inbound but the direction is still unclear considering BTC current rally.
This could be a possible bottom on NXT. This is where the dump post IGNIS ended and now this is where price is resting after failure to breakout. MA congestion suggests that a strong move in inbound but the direction is still unclear considering BTC current rally.
Comment:
That Bounce Tho...
Testing previous support (now resistance)
Long way up if it can make it through
Testing previous support (now resistance)
Long way up if it can make it through
