INTERESTING READ!WELL-DETAILED NANO T.A, IS THE CORRECTION OVER?
After studying, looking and analyzing through over several hours. This is the most detailed chart I can give you(I know this is a re-post from before, just as an update, I promise).
It can breakout at anytime! This could be triggered by news, people realizing it's really oversold, or if there is a major uptrend in bitcoin.
So far I've lost about 6% today, trading on nano/btc, mainly because of the "speed" trading bots on binance(many people have lost a lot more today than that I believe).
From a fundamental point of view, in the very long term, in the past 1-2 weeks since the downtrend. Not much NANO/btc has been traded/sold, approx. 10-20 mil(just an estimation) across all platforms, with nano having over 132 million in supply, which is basically a very small amount traded, as most of the people are HODLING( or some of them are stuck in Bitgrail). Keyword here: Marketing.
This would mean that there is a significant decrease in buyers for NANO/btc, as also shown by the volume. Continuing about the volume, I would say that an only real attempt to breakout would be primarily seen in the volume and confirmed also. A possible breakout as of current, would lead to a price increase until maybee touching the 20/50 day moving averages.
Personally I think nano/btc has a huge potential, and could possibly be worthy of a comparison to bitcoin in almost every way, and I do believe that is highly undervalued right now.
All summarized, downtrend, isn't over yet, I'd avoid trading until it breaks the trend line.
P.S. Agree, or comment you're thoughts on nano/btc ! This is a major downtrend, that could have been triggered by some fairly unknown factor.
Disclaimer:
//This is not a buy/sell sign, you decide what to do with your own money!//
It can breakout at anytime! This could be triggered by news, people realizing it's really oversold, or if there is a major uptrend in bitcoin.
So far I've lost about 6% today, trading on nano/btc, mainly because of the "speed" trading bots on binance(many people have lost a lot more today than that I believe).
From a fundamental point of view, in the very long term, in the past 1-2 weeks since the downtrend. Not much NANO/btc has been traded/sold, approx. 10-20 mil(just an estimation) across all platforms, with nano having over 132 million in supply, which is basically a very small amount traded, as most of the people are HODLING( or some of them are stuck in Bitgrail). Keyword here: Marketing.
This would mean that there is a significant decrease in buyers for NANO/btc, as also shown by the volume. Continuing about the volume, I would say that an only real attempt to breakout would be primarily seen in the volume and confirmed also. A possible breakout as of current, would lead to a price increase until maybee touching the 20/50 day moving averages.
Personally I think nano/btc has a huge potential, and could possibly be worthy of a comparison to bitcoin in almost every way, and I do believe that is highly undervalued right now.
All summarized, downtrend, isn't over yet, I'd avoid trading until it breaks the trend line.
P.S. Agree, or comment you're thoughts on nano/btc ! This is a major downtrend, that could have been triggered by some fairly unknown factor.
Disclaimer:
//This is not a buy/sell sign, you decide what to do with your own money!//
Trade active:
Buy in at: @ 0.0005 (most likely shorting unless it breaks the trend line)
I do not think the price will go to 4200, it is possible however, I do expect news from nano very soon.
I do not think the price will go to 4200, it is possible however, I do expect news from nano very soon.
Trade closed manually:
Trade closed: Averarge selling price @ 5220, up 4%(with commission costs accounted)
Related Ideas
I'd expect that it would be going down this whole week or at least until the end of the month.
I am still completely avoiding trading on nano, until the downtrend line is broken.