✳️ NKN Looks Good But... 4896% Explained (Name Your Altcoin #55)

This trading pair looks good based on many different signals but things can easily change.

NKNBTC bottomed January 2021 at 51 satoshis (0.00000051 BTC).
Bullish consolidation followed in February of the same year and a major bullish wave took place in mid-March 2021 that lasted for less than a month and ended in April 2021.

This was a 4,896% or 48X bullish wave.

If I shared a trade idea predicting such a move or published a trade, people would not believe it.

They would say, "it is impossible with the market sentiment to see a 4,800%+ wave in a matter of months!"
What if the same repeats?

Since the peak price in 2019 to the peak in 2021 we have a period of a little more than two years.

If we calculate from the 2021 peak to early April 2023 we have the same time period, a little over two years...
The conditions are similar now but better.

Notice the cryptocurrency market sentiment, very bad... This type of sentiment leads to the strongest type of bullish explosive growth.

NKNBTC Chart Signals

• This pair is trading weekly above MA200, EMA10, EMA50 while challenging EMA100.
  EMA50 only confirms once this week closes above 497 sats, closing below would invalidate this part of the signal which doesn't mean anything.
  
• We have a long-term higher low May 2022 vs Jan. 2021.
  
• The RSI is super strong while there hasn't been any major bullish breakout.
  
• The MACD is above 0 (bullish).
  
• Many altcoins already produced massive gains.
  

Everything is looking great but, things can change.

We can go from a dead, dull, boring market, to a massive explosion of growth mixed with excitement and euphoria, in a matter of days.

Bitcoin is bound to produce a correction, a strong correction at some point and that will be the catalyst for the Altcoins explosion, money will flow from Bitcoin to the rest of the market and after the low/support is found the next bull-market will be confirmed and years of growth is likely to take place.

The market moves in cycles...
It does it like clockwork.

As the money supply expands and Bitcoin's supplies contracts, this leads to the appreciation of Bitcoin and Crypto which is like Bitcoin's arms and legs.

Namaste.