There is a potential short-term uptrend on NANO/BTC pair. A bounce at the 0.5 fib level support will create divergence on the oscillators favoring some short term gains.
The main trend is still down though. It has to complete the correction, before the upcoming massive 3rd wave up.
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Wave 4 target might be slightly lower, or higher if it bounces here ( which i dont see it for now)
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Nano bounced on the 0.5 and its on its way for the 4th way up. As i said in the comment below and my Bitcoin idea, long wicks on flash crashes show where the local high/low is ( slightly higher/lower than the wick)
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A done, going down for B and will join Bitcoin on their last wave up. Needs at least 1:1 for the target to hit, else it will fall short at 0.618 .
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Nano is more resilient than Bitcoin, but it doesnt look that it has the strength to go up. Double top for .618, fibs 1 and 1.236 inside the box.
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Well NANO didnt make it, It may have a bounce here since its approaching oversold levels and this was also a potential pivot for the 3rd mini wave. No sings of reversal yet.
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no signs*
Trade closed: target reached
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First target. Watch out for a drop on the second target @9K.
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Nano is more impulsive than anything else i have seen. Broke RSI resistance, extended 3rd and should double top or aim slightly higher before a pullback.
I think its a clear reversal here.
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Great run but needs to cool off, judging by its bullish-ness it shouldn't retrace more than 50%.
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Nano was looking very promising, unfortunately its going for an extended correction. Next potential reversal areas 7.4k and 6k sats.
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NANO is similar to XLM, but its more obvious here that its gonna have another dive.
Elite group of knife-catchers are gathering around 7.3k sats.
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Charlie Lee's shilling coin is almost there. Hang on !
Trade closed: target reached
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Z target reached. It doesnt look impulsive yet, so it MAY drop slightly lower than 7k sats.
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Alternate count on this. Beware of a last (?) drop to 7k +-200 sats.
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It seems like this count works better for NANO. 0.92 retracement, 1.618 for C, falling wedge (ending diagonal), pitchfork mid line. Its screaming buy me, if this is not a dead project. Also, the deeper it corrects, the higher it bounces. Potential top performer for Spring/Summer ?
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Oh! Forgot the most important ones, Charlie Lee's shilling coin and an algo target at 6.8 or 6.7 (ok maybe at 6.4 depending on the wicks).
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Last update here. NANO seems impulsive, bullish confirmation on the line. It will get there eventually and get denied, but it will break through later on.
Haysus, if that's going to a lower low my guess is that BTC count from the other chart is going to match it. Well I'm going to take a shot at a higher low when it gets there.
Acel
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@TomPower, just like BTC (~8.8k), it has a chance for a higher high at 11k sats before dropping. It hasnt hit any fib levels on the way up or down, so to me, it seems incomplete both ways.
If you use the second lowest point ( less "noise") on BTC ( from orange c (red close) to green a and point it from the green wick near green b, istead of the red wick) you would see that it hit 1.618.
This is from the longest wicks, not the ones mentioned above.
milltay
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Lol. Did you even look at the SMA or MACD? Looking more like a trend reversal to me on the 1 week...
Acel
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@milltay, A short term uptrend is not a reversal. On 2h candles, SMA55 is in downtrend, VWMA 110 is in an uptrend ( that creates bigger resistance for a reversal). There are divs that favor a short term uptrend, but thats all. Not even retraced 50% after such a massive run, MACD stable and below the zero line.
Why do you use a 1 week candles on a 4 week chart and what makes you think that this will reverse soon? Because i dont see such a sign so far.
milltay
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@Acel, What I see is there is strong support at 20 sats, it also just recently went through a major correction. I see no reason for a 50 percent retracement, especially with the ridiculous volume nano is capable of putting out. Maybe I am wrong but I see a symmetrical triangle forming. A further drop would mean a longer consolidation period, which I find highly unlikely backed by previous points.
Acel
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@milltay alright, i guess there is only one way to find out.