monotrix_

NEXO - Whats possible in may?

HUOBI:NEXOUSDT   Nexo / Tether USD
Hey fellow Nexonians

I`m back with another Nexo markup after the last one played out great so far! Its really nice to see how Nexo succeed the last few weeks, i`m really happy that we managed to break the last big resistance without any big announcements and we also managed to surive the big BTC dip better than mpost of the ALTs, thats a great sign for Nexos future and it really shows the strength of the project.

The next bigger resistance is around 3.80$. We also had a double top there and went down to the support at 2.80$ but recovered pretty fast, which also is a very strong sign. The announcements in the next weeks will lead the price of Nexo because of that its really hard to say where and when we will go at diffrent price levels.

So for that i made 3 possibilities:

Bullish scenario 1 (green path line):
We will break the resistance (blue line) at the first attempt and going directly to the upper trend line (white), after that we might see a retest to our last support (resistance before) at around 3.80$. If that holds we could break the upper trendline, retest it and going to 5$ or more.

Bullish scenario 2:
We will not break the resistance at the first attempt and going back to the bottom trend line (white), if that hold we trying the next move to break the resistance and when we broke it we will adjust to the green line like in bullish scenario 1.

Bearish scenario:
I don`t like it either but we have to consider this scenario. Besides the double top which is bearish we also have a bearish divergence which is not good, maybe we can ignore it because we have a really big bullish attitude but if the case will be a bearish movement i think we could break the bottom trend line going back to the support at around 2.80$, retest the bottom trendline and if we dont break that again i think we go down to the resistance at around 1.80$.

Like i said the next announcemts will have a big impact on the chart and could lead to a parabolic breakout so maybe none of this scenarios will happen and we just go up or down, which is very unlikely IMO. Also the bearish scenario is unlikely becsause of the movements we had before on this way up and IMO we are still in a bulltrend so i don`t think that will really happen, but we still have to consider it!

Please tell me your scenario of this markup or some other ideas that could happen.

If you have some question just ask and check out my other Nexo markups which one of them is still running.