Where You At Twitter Fam!? NANO!! (NANO)

HI friends! Congratulations to my Twitter voters, who voted NANO , and came in strong with the second place finish! Let's get right to it! Looking at the four hour chart for NANO , we can see that support was recently found on the 20 EMA (in blue.) There isn't really a lot of data to analyze yet, but we can see that the current price action appears to be creating a bowl-shaped formation. The dashed blue trendline would be the breakout level for the bowl, and you can see that it ties in nicely with support that existed slightly after the first candle. Since the 20 EMA was supportive, we can use it for a barometer on the formation of the bowl. If the 20 falls, the 50 EMA is right behind it. If that falls too, then the bowl isn't likely to form. However, there is currently no evidence of that, so we can continue to monitor this pattern as a bowl.

If a breakout above the dashed blue trendline occurs (17000) that could send NANO up to test the bottom of the "big resistance zone ." If you're wondering why this area is resistive, it's because of the action on the first two candles. You can see that they both have long wicks on the top, which indicates heavy distribution. In areas of distribution, there is a lot of selling that occurs. Therefore, we must be cautious of further selling pressure in that area. With that being said, if NANO eventually breaks above the big resistance zone , that would be a very bullish sign, and (for educational purposes only) a technical buy signal. However, we're aren't even near the bottom of the resistance zone yet. So, for now, we can focus on the development of this bowl formation. The MACD is attempting to form a weak crossover, and the volume is mostly bullish , so the underlying buy pressure appears to be healthy. Continue to use the 20 EMA , as an indicator of sustained strength, and monitor the development of the bowl. I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic. Au revoir.

This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-Magic loves you-

@MagicPoopCannon I believe its time for a kind update :) Shall we fear the breakout of the BTCUSD iH/S pattern in relation to Nano? Thanks dude! keep the good work!
@MagicPoopCannon oi, can you post an update? Is it time to sell Nano? :) Thanks for all your charts, appreciate it a lot!
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NANO is currently moving and pinching within a symmetrical triangle, within the bigger picture pennant. RSI is slightly positive, pinching in a ascending triangle shape. 30 minute candles:

+1 Reply
TY Poop! Followed on Twit!
Thank you MPC, here is a more zoomed in 1 hour candle chart on the pennant it is currently trending in:

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Brother its not right ! It completed 5 waves of elliot so going for ABC correction now !
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I think I'm with you :)

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Samppple LuanCeli
Ty and mr poop
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@LuanCeli, Hey this is a nice chart. i set my stop last night but had no idea why we fizzled and the chart was going so beautifully. not sure how I missed that down trend line!!! Thanks for good work for me. I like not too much stuff on the screen and this is all the stuff i look at. I'm stopped out what pirce entry are you looking at?
I'm a simple man. I see NANO chart and I follow
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