POLONIEX:NXTUSDT
The recent rally in NXT could have been A-B-C upward push from the recent bear. With that the bear market should resume however the alternate count looks too Bullish. In the Bullish case, this could be initial phase of Wave (3) which could take prices much higher than current levels. The current counter trend push is potentially a Wave (ii) of bigger wave (3). If this wave interpretation is true then Wave (iii) should start with sharp rise with initial target of .187 and eventual breakout of that resistance.
With recent highs in BTC, I would be more biased to bullish case.
The recent rally in NXT could have been A-B-C upward push from the recent bear. With that the bear market should resume however the alternate count looks too Bullish. In the Bullish case, this could be initial phase of Wave (3) which could take prices much higher than current levels. The current counter trend push is potentially a Wave (ii) of bigger wave (3). If this wave interpretation is true then Wave (iii) should start with sharp rise with initial target of .187 and eventual breakout of that resistance.
With recent highs in BTC, I would be more biased to bullish case.
Trade closed: stop reached