Currently creeping on longterm support, dating back as far as 2015. The green line indicates strong(ish) support, red represents all time low. Approaching double bottom on the weekly. Breaking out of a falling wedge plus a BB squeeze on the daily. I'm looking for a reversal but I wouldn't be backing it with leverage for some time to come.
In honour of keeping it simple, zooming out and looking at things objectively:
Buy zone is circa $7000, I don't expect any spectacular moon shot any time soon after that, a slow trickle along this trend line is most likely and would be a relatively healthy progression.
Long term zig zag correction down to 10K for NAV but not before bouncing off 17K back up to 25K and then a steady decline down to 10K before another moon shot. I think fundamentally NAV shows high potential, its team seems dedicated and actively progressive, it also has a solid community.
This is has been a steep learning curve for so many of us. I've learnt to not act on emotion, zoom out, look at the wider time frame, have patience and stick to my guns. In light of that I've sold a large chuck of favourite coin in favour of the TA! Let see how this plays out. Anyone that can spot any major flaws in this please feel free to point them out. I am...