NANO : lets try this again. are we doomed?
k so the obvious fractal is there. the one where we have had merely a HUGe correction before going on some sort of willy wonka moon shot.
is it possible? yeh it is. there is a LOT of printed/derivative etc money floating around.
dont talk to me about market cap, that just shows me you have no idea what your talking...
BLUF: After a daily close above 7.5; Entry 7.308, TP 9.9, SL 6.08.
I'm still new to technical analysis and I'm trying to exercise everything I'm learning, if I am miss label information please let me know! So please don't make a trade exclusively off what the information I am displaying here.
1. RSI trend line broken
2. MACD line cross
Unless we break out of this channel and start a new more extreme uptrend, I believe we'll see NANO break $8 and peak around $8.30-50 before coming back down.
I caught this while NANO was around 6.50 and called out the drop to 8.40 before breaking the downtrend. I'm of the opinion that this is still valid.
I've been super bullish on NANO historically but recent...
An idea for NANOUSD
An also great entry point for the coin
as an expected double bottom is going to play out
Two tests of this level (in red) affirm the line as a point of support for price (resistance turned support)
200MA will curve and lead to up continuation
I like the way things are holding here.
The correction may not be over but sellers are losing interest and I think we could see $7 before the end of the year. Either way we're pretty oversold so I think buying and holding for a month or two at these levels could be fruitful.
I like this as long as btc stays above 30k.
Not financial advice.
I like to define a plan for the day so that I can look for some short-term profits.
This time I have the day to manage this range so I can be more agile when choosing and adapting the targets.
I hope you are all well.
Buy point in green circle
Currently trending along 1.618 fib circle
I have drawn some trendlines which support the sticky circle and are likely points of a bounce off of the circle
Similar point also in green circle earlier on the chart
It looks as we have a Wyckoff accumulation pattern playing out on NANO.
It appears we are currently in Phase C of Wyckoffs accumulation pattern with a last shake out.
In phase D we should see price moving to the top of the resistance line and phase E a full blown take off.
This is not financial advice.