robbiegrass
Long

NPXS heavy accumulation - Ready for a major bull run?

BINANCE:NPXSBTC   Pundi X / Bitcoin
NPXS appears to be ready to form an uptrend. The daily has formed a higher low and has yet to confirm a higher high.
On the daily chart , an ascending triangle seems to be forming which is close to it's apex at the moment. https://www.investopedia.com/terms/a/asc...
Daily 14 EMA looks like it wants to cross above the 50 EMA which would be a bullish sign. Both EMA's are currently beneath the price which is also bullish .

I have been watching volume the last couple of weeks and I have spotted large buys on Binance (100+ BTC market buys on a regular occasion). The MFI and the accumulation/distribution confirm heavy accumulation.

NPXS holders receive a monthly 7.32% reward for holding the token.
This amount will decrease to 2.12% after 2018.
https://medium.com/@tokenomy/tokenomy-wi...

Since rewards will decrease significantly, NPXS market makers will most likely look to decrease their position going towards the end of 2018.
The most logical explanation for the heavy accumulation we have been seeing is to create a pump in which these market makers will be looking to decrease their position.

Offcourse this is subject to heavy speculation but both the chart and the fundamental change seem to confirm this.
Always do your own research!

Comment: Volume profile shows us there is heavy resistance in this area. If we manage to pass the resistance, the volume goes down significantly indicating that we might see a big run without much resistance

the 14 and 50 EMA on the daily are nearly crossing (should be in the next few days if we keep up this price). Price got pushed back by the new resistance line I have drawn.
Comment: if we zoom in, the price seems to be retesting those EMA's as support that it previously broke
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