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crypticsarah

Probably H&S formation.

Short
NXT / Bitcoin (BITTREX:NXTBTC)  
crypticsarah Updated   
BITTREX:NXTBTC   NXT / Bitcoin
Trend Analysis Chart Patterns
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trendanalysis chartpattern
1.After a 3 days of rally, it seems to cool down a bit.
2.Volume decreased significantly.
3.Correction coming on 1D chart
Comment:
As expected its forming H&S
1.Lest shoulder and Head formed.
Comment:
1.If NXT hold till 3000 support then H&S formation is invalid at 4 hr chart.
2.if it breaks 3000 support line then next support at 22XX.
Comment:
As said earlier,if it holds of 3000 support then H&S formation will be invalid.
Since it has bounced off the support pretty well, i see the resistance at 5700.
Also Bullish trend reversal confirmed since Dragon fly Doji is formed at the support with bullish Divergence.
I hope it passes EMC2.
:)
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