alanmasters

[NANOBTC] Highest volume since Feb. (Retrace incoming - BUY-IN)

BINANCE:NANOBTC   NANO / Bitcoin
After such a huge growth, from 0.000127 bottom on 14 Aug to 0.000567 yesterday, it is safe to say that it is time for NANO to retrace.

Here are the next support levels based on the Fib. extension tool:

(1) 0.000398
(2) 0.000347
(3) 0.000295
(4) 0.000230

If I wanted to buy-in, rebuy or reload some NANO , I would do so between #3 and #4. The size of the retraces will really depend on the market and how good NANO does. If the retrace isn't strong enough, then between #2 and #3 should be your entry point.

We will have a better picture after a few days, but sit back, watch and relax to see how far it can retrace.

Also, since NANO was early and strong on its take off, tracking it might give us an idea on how the other alts / Binance coins will also move.

Thanks for reading.

Please like, share, comment and follow for more trade ideas.

Namaste.
Comment: Previous analysis:
Comment: So far NANOBTC has been holding strong.

Let's see how things are going after a few more days.

Lowest so far for the retrace was 0.00036 yesterday... it has been holding strong so let's see how the week closes.
Comment: NANO is preparing for more. Retrace + consolidation has been completely healthy and solid.
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UPDATE PLEASE
Reply
alanmasters dogalkozmatik
@dogalkozmatik, I was looking at it recently... still no signs of a breakout for me but it looks like soon.
Reply
dogalkozmatik alanmasters
@alanmasters, thank you, so do you think I should sell
Reply
dogalkozmatik alanmasters
@alanmasters, If you bought more than 3750sat, please show a direction
Reply
alanmasters dogalkozmatik
@dogalkozmatik, It depends on your buy in price. I would wait for a clear signal but we are bullish and in an uptrend right now. So it is better to hold.
Reply
I agree, I put my first target to 3700. Luckily i got in at 4000 before the bounce up, but surely a retrace of a larger scale than what we saw today will happen.
The market seems to have lots of "miniature wars" at the moment. Will be interesting to follow. Could probably have swing-traded a wee bit, but when the market is as it is now I rather wait it out.

Hope that you are right.

best regards.
Reply
alanmasters doremifasol
@doremifasol, Holding strong so far. We will see how the retrace go, I want lower to rebuy.
+1 Reply
Thanks for sharing
+2 Reply
@Astro_, Always... it is my pleasure.
+2 Reply
Would have been nice to get info a week ago so that we could get in on the 300% ride!
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