CryptoPrescience

NXT and IGNIS - The Moment of Truth

POLONIEX:NXTBTC   NXT / Bitcoin
Well, this is it. For all those who are hopeful this coin has one more push up, we shall see soon.
After a large dump off yesterday, NXT seems to have found somewhat of a bottom with some positive signs of divergence to the upside. I warn though, this is a dangerous trade and dangerous territory because NXT is way overvalued. As soon as the snapshot is took tomorrow there's going to be another massive dump off much like what was experienced the day of the EMC2 "mind-blowing" announcement. However, the one thing this trade may have that helps it more than others realize is that IGNIS futures are currently trading at $5 USD. Now with that said, I look for IGNIS prices to drop dramatically as well due to immediate sell off post airdrop. If trading this coin, be weary and pay attention to the trends. I highly recommend using stop-losses. I'll be entering with a SMALL position.

Trade Procedure:

Buy: Less than 9400 sat

Sell: Gonna wait and see what the market does. If this coin reaches 13000 sat again, it'll be extremely hard for me not to sell. I'm not hopeful NXT breaks all time high.

Stop-Loss: 8500 sat for now

Trade Length: 1 day or less

Goodluck!
Comment: Next few hours are critical. I'm hoping the little push up to 9500-9600 sats wasn't all NXT had left in the tank.
Comment: I am using bittrex instead of poloniex. Values are higher on bittrex so the stop loss may not be appropriate for poloniex. I'm still in this trade and will probably sell on the next swing up which is coming soon.
Trade closed: stop reached


called it couple of days ago
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agree! would have been better if I had left at around 13-14k sats. Less pain, probably more gain :-)
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CryptoPrescience michelvankessel
@michelvankessel, Hahah me too Michel! The hardest part about trading is knowing when to sell. I also try to sell off little portions when coins get pretty high because there's always opportunities to buy back cheaper like now. The hype around this coin made it hard to sell though. Good luck and thanks for the comment!
+1 Reply
JonaM13 CryptoPrescience
@CryptoPrescience, kicking myself for not leaving at the ATH a few days ago, really believed it would pump more the last days before the snapshot, making good profit anyway but expected more
+1 Reply
@JonaM13, Don't feel bad. You're certainly not the only one wishing that. Hopefully this coin can get some good movement today that way we can all maximize our profits. Good luck Jona and thanks for the comment!
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JonaM13 CryptoPrescience
@CryptoPrescience, the market closes in 7 hours I believe, thing will have to move fast, but an hour is like a week in crypto, lets hope so ;)
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@JonaM13, what do you mean by "the market closes in 7 hours"?
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JonaM13 pimvanthullenaar
@pimvanthullenaar, trading of nxt will be disabled to make the snapshot, so the last pump will have to be before that. After the snapshot there will be an even bigger dump. Guessing back to 0,10
https://support.bittrex.com/hc/en-us/articles/115003571832-Statement-on-Ignis-IGNIS-airdrop-to-Nxt-NXT-holders
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@JonaM13,thanks, but how do you know it's in 7 hrs? i look to these countdowns?

https://www.ardorplatform.org/ardor-timeline/ardor-genesis-snapshot-ignis
https://www.nxter.org/
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JonaM13 pimvanthullenaar
@pimvanthullenaar, I have put my nxt on bittrex, can seller faster if necessary, they close the nxt trading at 6 PT so they can take a correct snapshot, Brussels time 3 o clock tonight I believe that is.
NXT itself indeed say at block 1636363, if you have a nxt id on nxt.jeliruda.com you can see the height they are at in the left corner, under "connected and forging". They are now at block 1635317.
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