In all my previous charts I anticipated NPXS breaking out of it's humongous falling wedge/channel at SOME POINT... I initially thought it would be early July... then I thought it might be after we rode 5 sats for a while... and we did sit on 5 sats for an entire month... but it was not enough to start the curve upward.
At this point, it seems that it is most valuable to just watch BTC dominance as you can pick almost ANY altcoin, regardless of use case, scam, utility or scarcity and see that they're all being destroyed on the BTC ratio in a run toward 0 sats. Therefore, once BTC dominance begins a decline we should see all the alts, NPXS included begin their climb.
What I have featured in my chart is my revised wedges based on us hitting 4 sats today along with divergences I wrote about in a previous idea. These new looks are pretty ugly because they have us at 2-3 sats by October... but on the other hand we can see clear RSI, MACD and OBV divergences over the past few months showing that although price is dropping, sentiment is not dropping with it. What I think that REALLY means is that the demand for NPXS and most alts will return in the coming months once BTC is finished doing it's thing.
I still don't think it's a bad idea to be buying around 5 sats in the long run.. you can place your orders anywhere though. With only a few sats between here and 0, you might as wall ladder them all the way down and see what hits. When the market turns, there most certainly will be money to be made.
this thing is algo traded, it'll stay short until 4 sats, bounce to 10-15 sats, then head down to a single sat.
smumoot
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@BMLemon, interesting... would love to see that bounce to 10 days! I just can’t see it going up unless the entire alt market does too, everything seems to be at BTC’s mercy these days!
Breakeven for me would be around 10 sats because of the airdrops and because I keep averaging down... but I’m not expecting to see it any time soon. Hoping before Dec 2019, hah
Also, do you have any sources for it being algo traded or are you just referencing the bot action on Binance?
smumoot
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*sats not days
BMLemon
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@smumoot, I'm just referencing the bot action on binanace and it's fibinanci response. 4 sats is concering me since it was one of the targets and bots should have kicked in. Hopefully it bounces real soon, before Binance shuts down to US customers.
@BMLemon, True, although 4 sats just fell with 0 buyers again.
smumoot
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@stevehoos, Yeah i was disappointed to see it hit 3 sats today. I did note that I think volume has moved over from NPXS/BTC to NPXS/ETH and NPXS/USDT, probably because of how difficult it is to move the price in bitcoins. We may not really see much volume in the BTC pair until it gets up over 10 sats and every move isn't +/-20%. I know I'm starting to be more interested in reading the ETH chart. I wouldn't be shocked to see an ETH or USD pump in the future, which roundabout forces the BTC ratio up.