Since may 2022 nano has been in accumulation. just like 2021 the chart has formed a inverse head and shoulders pattern, the covid crash (a black swan event) made this possible. this already highly reliant pattern is even more reliable due to the time frame. the longer the pattern te more likely it works out.
Targets are the blue lines. the first wave should hit the top of the blue channel arround 2 dollars. for the entire bullish wave im expecting 8 dollars per nano for this market phase.
as you might be aware of.. a global ecomomic recession is on the rise. these are very hard to predict and have impact on this chart. ive lately relized that black swan events are part of your chart, you have to take them into account. also it doesnt matter how the price got influenced in the past, every piece of data counts. thats why ive made an even longer term prediction on nanos price. it takes a ≈80% crash into account. keep in mind the time frame on these can change, what cant change are the ranges in the chart.
i will be posting that soon, because tradingview doesnt have the entire price history of nano. one thing i know 100% sure, this is breaking out.
Oh btw, for a bullish Inverse H&S pattern, your right shoulder should be higher than the left one( this was the case in 2020). If you pay attention it is the opposite now. Id pay some caution here
Maxvgent
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@chakoban I know. I’ve done more research about this pattern. There are examples out there where it doesn’t se to matter how it’s tilted. Nano is a strong crypto so I have faith this will play out well.
Maxvgent
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@chakoban well. My inverse head and shoulders pattern seemed to have broken out. Now let’s see the move unfold
chakoban
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Hello there. You are shining on NANO, what a belief in it, congrats I must say! From my end,I sold all this crap and replaced with ALGO. Surely I have had high expectation on this COIN based on its hype in 2017 but really it is slowly dying. Good luck
Maxvgent
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@chakoban i think it’s actually gaining popularity. at the end of a pattern near the apex volume gets lower.
chakoban
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@Maxvgent, check the merchants that use nano on nano Web page. They haven't added any new merchants for ages, I lost my belief. I have replaced my nano bag with ALGO when Algo hit its low