Hi,
NXTBTC has been on my radar for the past week. It dropped hard to a past accumulation range. For this reason I am anticipating that downward momentum will cease because those large buyers who accumulated coins at this range will defend the area. If this is the case, those people will likely accumulate more coins at this level as there is no rush to push prices. If they start another accumulation cycle it will look like the chart above. The labels above are the Wyckoff cycle. This is a solid coin with good fundamentals making it a relatively safe buy.
Good Luck!
-Alex
NXTBTC has been on my radar for the past week. It dropped hard to a past accumulation range. For this reason I am anticipating that downward momentum will cease because those large buyers who accumulated coins at this range will defend the area. If this is the case, those people will likely accumulate more coins at this level as there is no rush to push prices. If they start another accumulation cycle it will look like the chart above. The labels above are the Wyckoff cycle. This is a solid coin with good fundamentals making it a relatively safe buy.
Good Luck!
-Alex
Comment:
We are now getting volume. Should be a bottom