NULS broke sats ATH and is not even close to done yet

BINANCE:NULSBTC   Nuls / Bitcoin
  • We're currently finding resistance at the all time high level of sats which is more than expected. Don't worry friends, there is a lot more left to go as we're just getting started.
  • Wave 3 of the NULS supercycle should end around 77-81k sats so I would look for that around the end of the month
  • Honestly I would prefer a healthy retrace down to the 51k or 46k levels but with the main net coming up soon that may be off the table. Have to wait and see
Comment: Check out the sell side volume for the retracement. It is incredibly low! Low volume red candles indicates a thin order book. Translation: People are not willing to insert buy orders while BTC is correcting so the few people who are selling are magnified more. If we were seeing massive volume on the sell side I would be worried but honestly this is more bullish than bearish. Think of it as more of a freeze. Mostly people are holding the NULS they have instead of bailing.

Expect the volume to pick back up once the buying starts again on BTC

Comment: Volume is falling off hard. No one wants to sell (and I don't blame them!)


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.