Nano is showing bullish divergence on a higher timeframe. My expectation is that downtrend which started since ATH will be reversed soon. Similar bullish divergance pattern appeared with previous bullrun when and BINANCE:XNOBTC pair gained about 500%. Price action since ATH seems corrective (three wave move), which indicates a new impulsive wave could exceed ATH.
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I wouldn't go long here yet. Wolfe projection suggests tar price in box between 3700 - 3810. After that; to the Moon. Overlay from October correction second wave fits this one pretty well so far. Sell the rallies! GLTA!!
Looking at 4h and daily charts a corrective a structure will be seen. And I also see a corrective on 15m chart. So I am looking for sell setup
Spent several hours analyzing this pair for what's happening both short and long term. IMO, my analysis reveals that prices are heading towards a strong support zone area around 1.11000-1.10000 with a confluence of factors lining up around that support zone. Before I go into detail about those factors, let's take a look at what's happening overall from a top down...