Hello Dear traders.
NASBTC is showing some sign of life and strength on the daily timeframe . Considering the downtrend this coin has been through, this zone offers a very strong Risk Reward ratio.
You can see:
- it just reclaimed a support and it's holding the btc impulse decently.
- Price is squeezed within a C.FORK, showing a changement in the market. A C.FORK allow a trader to identify when price switches from downtrend, to a flat activity. The breakout of the C.FORK trendline is usually a bullish trigger, price switching from flat to bullish.
- The green scribble can be analyzed as a spring under support. A “spring” takes price below the last obvious low, right under support, and then reverses to close above the support. This action allows large traders to mislead the public about the future trend direction and to acquire additional coins at bargain prices. Also guys, not sure it's one, but be aware that a terminal shakeout at the end of an accumulation is like a spring on steroids. This coin is showing some volume , meaning that buyers stepped in, adding some confluence.
Any breakout above our white line resistance you can see at 725, materializing a daily resistance, and:
1. We could move up to the 947 sats zone for a 50% move.
2. If 947 is broken on a daily close, we can expect to reach the 1275 zone and a bit higher. These two targets look unlikely atm.
3. These two targets can hold price for a while, squeezing price within a trading range, but stay aware that any breakouts can very fast reach the white and blue zone, at 70 and 80 sats .
For free and live btc and alts updates, follow us on twitter by clicking here.
Happy trading.
NASBTC is showing some sign of life and strength on the daily timeframe . Considering the downtrend this coin has been through, this zone offers a very strong Risk Reward ratio.
You can see:
- it just reclaimed a support and it's holding the btc impulse decently.
- Price is squeezed within a C.FORK, showing a changement in the market. A C.FORK allow a trader to identify when price switches from downtrend, to a flat activity. The breakout of the C.FORK trendline is usually a bullish trigger, price switching from flat to bullish.
- The green scribble can be analyzed as a spring under support. A “spring” takes price below the last obvious low, right under support, and then reverses to close above the support. This action allows large traders to mislead the public about the future trend direction and to acquire additional coins at bargain prices. Also guys, not sure it's one, but be aware that a terminal shakeout at the end of an accumulation is like a spring on steroids. This coin is showing some volume , meaning that buyers stepped in, adding some confluence.
Any breakout above our white line resistance you can see at 725, materializing a daily resistance, and:
1. We could move up to the 947 sats zone for a 50% move.
2. If 947 is broken on a daily close, we can expect to reach the 1275 zone and a bit higher. These two targets look unlikely atm.
3. These two targets can hold price for a while, squeezing price within a trading range, but stay aware that any breakouts can very fast reach the white and blue zone, at 70 and 80 sats .
For free and live btc and alts updates, follow us on twitter by clicking here.
Happy trading.
Apologize.