Long
preparations for $NXT bullrun......
NXT did a nice move up and is currently consolidating and forming a bullish continuation pattern.Current price action is indicating accumulation.
2 sceniaros from here:
1) a possible break out to the upside for a run towards at least 0.00075. Wait for the breakout to buy, put an alert on the upper trendline. Dont buy now because of scenario 2:
2) a completion of ABC correction because of the bearish divergence in MACD. Wait for a break out to the down side and buy near the blue box for a much better profit run to 0.00068 at at least.
I will try to update when important moves happen.
Happy trading!
Note
Update: price bounced of from the upper trenline and went down....broke to the downside and the retest failed. Looks like we might see some more downside, forming a smaller ABC. Moved the blue box a little bit up Note
Scenario 1 seems to be playing out.Price broke out to the upside suddenly. I would advise to wait for a pullback from this sharp upmove. RSI almost overbought on 240.
Target still valid.
Note
Target reachedNote
Possible next scenario, 1 more leg up Note
Made the correctionNote
2nd target reached
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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.