Nano has been retracing most of the recent climb. It is now approaching some strong support zones. If all 3 zones fail, it will be catastrophic for bulls!
27xxx sats should offer at least a dead cat bounce. 262xx might catch a spike of stop hunt below 2700. 255xx is Bulls' Last Stand, below which is Doom!
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See some of my other ALT coins plots below. I also plot Forex and some Stocks, check my profile page.
IOTA bounce
WTC top
ADA breakout
XLM breakout
DASH top
ONT top
Of course, I have had total FAILS on some plots as well, not going to pretend. But my plans offer PRECISE entries, TIGHT stops losses, and EXACT take profits. Precision is the way of the Fib. Direction, however, is where the Trader comes in.
Comment
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Nano is in bad shape against BTC, like most alts right now it is breaking supports and then confirming them as resistance, a very bearish sign. So until it breaks above a resistance and confirms it as support, it is too risky to buy.
It seems to be forming bullish engulfing at 1h30 time frame.
anonycoin
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I'm thinking the same, we need to wait BTC decision ... 1h EMA cross up or down at this moment. We can possible trace back to 3700 if this 3800 broken
anonycoin
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@anonycoin, I mean 2700 if this 2800 broken, sorry .
EuroMotif
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@anonycoin, gotcha, and agreed.
There are indeed a lot of mixed signals between TA and Tether Fud...
anonycoin
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@EuroMotif, my felling saying btc movements is the reason when take profit for NANO/BTC. Because the movement of dump is too harsh whenever btc goes down. So seems reasonable for all traders actually manipulated.
anonycoin
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@anonycoin, I mean when to take profit >> For the bot.