Short and sweet on this one. Assuming BTC does not reject the $9,200 levels and make a bearish move, NANO is looking like an excellent alt play after its recent beatdown due to node issues and more FUD.
Aggressive traders can buy now. Conservative traders should look for confirmation and buying action leading up to the 90K satoshi level for a third test. It will likely not withstand another run up. Lowest possible stop-loss should be at the 78K level, which has held firm, but more conservative traders can look to exit on the ascending trendline break on smaller timeframes.
Aggressive traders can buy now. Conservative traders should look for confirmation and buying action leading up to the 90K satoshi level for a third test. It will likely not withstand another run up. Lowest possible stop-loss should be at the 78K level, which has held firm, but more conservative traders can look to exit on the ascending trendline break on smaller timeframes.
Comment:
Should have posted the bar chart, was looking at a smaller timeframe and forgot to adjust!
Trade active:
longed the dip to 84.5 when BTC mooned and bots auto-sold.
Trade active:
Trend still in place. NANO is on-track to have a breakout within the near future.
Trade closed: stop reached:
Stop reached at 82K.
Every trader makes mistakes, and its important to learn from them so that you don't repeat them. I failed note the divergences on smaller time frames, as shown by the pink lines. Mea culpa.
All that being said, it's important to note that the long-term trend is still leaning bullish, as shown by the modified blue arc, and it will be important to keep an eye on NANO in the future. There is a lot of potential profit to be made here, should it continue its bullish trend.
Every trader makes mistakes, and its important to learn from them so that you don't repeat them. I failed note the divergences on smaller time frames, as shown by the pink lines. Mea culpa.
All that being said, it's important to note that the long-term trend is still leaning bullish, as shown by the modified blue arc, and it will be important to keep an eye on NANO in the future. There is a lot of potential profit to be made here, should it continue its bullish trend.
Trade active:
Went long over the weekend on the 80K rebreach. I apologize for the lack of updates, I have been dealing with several personal emergencies.
NANO is doing nicely. Their wallets should also come out in the near future, which could add to the pump. It will be important to watch the fib levels from the previous move for potential exit points.With alt-coins I typically do not set specific price targets. I know, I know, dangerous, right? Well pumps on alts can often go on for a very, very long time. My general rule is to use a modified trailing stop with the principle of "one signficiant price level with time to close." So, for example, if NANO were to break 100K then my new trailing stop would be placed at 100K, but I would allow the price some leeway around that mark after it is first broken, and even on its first re-test, letting the candle complete.
Went long over the weekend on the 80K rebreach. I apologize for the lack of updates, I have been dealing with several personal emergencies.
NANO is doing nicely. Their wallets should also come out in the near future, which could add to the pump. It will be important to watch the fib levels from the previous move for potential exit points.With alt-coins I typically do not set specific price targets. I know, I know, dangerous, right? Well pumps on alts can often go on for a very, very long time. My general rule is to use a modified trailing stop with the principle of "one signficiant price level with time to close." So, for example, if NANO were to break 100K then my new trailing stop would be placed at 100K, but I would allow the price some leeway around that mark after it is first broken, and even on its first re-test, letting the candle complete.