Something's Gotta Give
In all my previous charts I anticipated NPXS breaking out of it's humongous falling wedge/channel at SOME POINT... I initially thought it would be early July... then I thought it might be after we rode 5 sats for a while... and we did sit on 5 sats for an entire month... but it was not enough to start the curve upward.
At this point, it seems that it is most valuable to just watch BTC dominance as you can pick almost ANY altcoin, regardless of use case, scam, utility or scarcity and see that they're all being destroyed on the BTC ratio in a run toward 0 sats. Therefore, once BTC dominance begins a decline we should see all the alts, NPXS included begin their climb.
What I have featured in my chart is my revised wedges based on us hitting 4 sats today along with divergences I wrote about in a previous idea. These new looks are pretty ugly because they have us at 2-3 sats by October... but on the other hand we can see clear RSI, MACD and OBV divergences over the past few months showing that although price is dropping, sentiment is not dropping with it. What I think that REALLY means is that the demand for NPXS and most alts will return in the coming months once BTC is finished doing it's thing.
I still don't think it's a bad idea to be buying around 5 sats in the long run.. you can place your orders anywhere though. With only a few sats between here and 0, you might as wall ladder them all the way down and see what hits. When the market turns, there most certainly will be money to be made.
At this point, it seems that it is most valuable to just watch BTC dominance as you can pick almost ANY altcoin, regardless of use case, scam, utility or scarcity and see that they're all being destroyed on the BTC ratio in a run toward 0 sats. Therefore, once BTC dominance begins a decline we should see all the alts, NPXS included begin their climb.
What I have featured in my chart is my revised wedges based on us hitting 4 sats today along with divergences I wrote about in a previous idea. These new looks are pretty ugly because they have us at 2-3 sats by October... but on the other hand we can see clear RSI, MACD and OBV divergences over the past few months showing that although price is dropping, sentiment is not dropping with it. What I think that REALLY means is that the demand for NPXS and most alts will return in the coming months once BTC is finished doing it's thing.
I still don't think it's a bad idea to be buying around 5 sats in the long run.. you can place your orders anywhere though. With only a few sats between here and 0, you might as wall ladder them all the way down and see what hits. When the market turns, there most certainly will be money to be made.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.