Wetdog544
Long

NXT Correcting before next climb

POLONIEX:NXTBTC   NXT / Bitcoin
1) #NXT broke out of its long downward slide on 20 March. A Gann Fan was used to confirm the breakout and on 22 March and 23 March #ETC tested the 2/1 Resistance of the Gann Fan and on 24 March #NXT broke through the 2/1 support (see previous analysis listed below) to start its upward trend. The first observation is therefore that #NXT is now moving into a Bullish Growth phase.
2) From 24 March #NXT have been following a perfect Elliott Wave pattern to a high of 0.0000175 BTC before starting an ABC correction.
3) The ABC correction is on the first leg but is likely to drop to the 1.618 retraction / 0.0000165 BTC by the time the C leg is complete in 2 days time.
4) #NXT is a cyclic coin (look at my previous analysis listed below) and will likely climb 1100 % over the next 85 days. It would be a wise investor that waits for the correction to finish.
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