What a rough last week!
Competition Time: 2018/05/04 0:00 AM to 2018/05/11 0:00 AM ( UTC )
Users will be ranked in terms of the total NANO traded on their Binance account (including both Buys and Sells) across all NANO trading pairs during the competition period.
1st: receive 6,000 NANO
2nd: receive 4,000 NANO
3rd: receive 2,000 NANO
4th-53rd: evenly split a pool of 3,000 NANO
*All trades that we deem to be “wash trades” will not count towards your trading for this Trading Competition.*
So since the competition was announced, it seems as though people did exactly what Binance made a rule against, NO WASH TRADING.
However, it seemed to have happened anyway , with bear whales pushing the price down slowly and horizontally.
What I thought would be a much week for NANO , ended up being quite rough and blood-thirsty. We are now seeing something more of a double-elliot-wave ( W-X-Y ) correction that has been formed.
The sad part about this is that wave 4 broke down past the support of wave 1, which means to me, a much less outlook for the near future.
However, we're still not near the ATH for NANO and I do think we will break it this year, just not this week or next. I'm hoping we can gain some good support at the region its at right now, perhaps forming some kind of pattern with some magnificent gains to be made. Not to mention whatever whale that wins this competition will probably enjoy busting the price up of nano to maximize their gains, before dumping it.
So lets get ready to see some action with some sentiment on NANO for some massive gains by the end of May!