NLG/BTC: Bears getting exhausted, time for new bull market
Updated
Short term target 50 satoshi. Mid Term target 120 satoshi; long term 250 satoshi--and beyond. Inverse Head and Shoulders in Play; If NLG consolidates around current levels for the next few weeks it may eventually violate the 60-80 satoshi range around the end of summer, at which point Gulden will have completed this knife-shaped bottom and will start growing again vs. BTC--which will spell *insane* gains and many new ATHs for this low cap, veteran coin as it finds its niche in the Netherlands cryptospace.
Comment
Lack of bullish momentum against BTC cancelled this IHS on the timeframe I chose. However--*If you zoom out to the daily timeframe we could be in the middle of a MUCH, much larger IHS and may be currently forming the inverted "head" with the left shoulder going all the way back to early last fall. This would put the completion of the right shoulder formation around Late November of this year with some potential upward fireworks around Christmas 2021 with a target of 600-700 satoshi! With presumed increases in BTC appreciation by then, gulden could easily see new ATH if this protracted IHS goes accordingly and is accompanied by news of new exchanges and more adoption awareness.
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