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Nanousd

Despite Selloff, NANO Remains Bullish Against Bitcoin Time for a NANOBTC update! My previous Nano analysis was on the USD pairing. Decided to do this next one on the NANOBTC chart. What's interesting about this pairing is that NANO is still more than 100% up on its Bitcoin ratio since August. I had a feeling that NANO would not drop much against Bitcoin, even if it dropped to the 3K-4K area. The reason for this is that unlike most cryptos, NANOBTC actually showed a strong reversal back in August, and has since maintained its new support in the 2500-2600 area. I did say in my last analysis that worst case scenario, I'd expect NANOBTC to test the low 2000 area (which has already happened since the selloff). We successfully tested those levels and are already back near previous strong support. This is pretty bullish. Now things are getting more interesting. I've speculated recently that the earliest the bear market could end would be early 2019 (late January, in particular). This happens to align with Bakkt, as well as the completion of NANOBTC's potential adam & eve double bottom (green line on my chart). HOWEVER, we are approaching a big descending resistance (in pink), and if the market continues to look weak, we could drop back down to lower supports, and test the USD lows of $0.75. Based on my earlier analysis, I think it's pretty unlikely that we go below $0.75, as buying strength in that zone is ENORMOUS. However, we can't rule it out if Bitcoin decides to test below 3K. The NANOUSD chart doesn't look nearly as good, but it also has a decent chance for a double bottom (although more extreme). My bias is long right now (added a small amount in the current $1-$1.10 support), but of course we can fail at resistance. Based on what seems like bullish accumulation in this area, I think it is more likely that we break out, but what do I know? We'd need to get above 2650 and 2700 for starters. After that, 3000 would be the next target for NANO. I would then expect the new rounded bottom to complete, and the entire crypto bear market to reverse along with it. I see NANO as a major gauge of investor sentiment for this space, since it's one of the more hyped coins in the market, due to its advantages over Bitcoin and new speculators betting on it to gather a bigger share of the crypto market as adoption accelerates. There is a case to be made for a multi-year bear market. In this case, my idea will be invalidated. Support: 2200 2400 2500 Resistance: 2650 2700 3000 3400 4000 5600 6000 This is not a recommendation to buy or sell, nor am I a professional financial advisor. -Victor Cobra Previous NANO analysis:
NLong
by VictorCobra
12
NANO, and How I Used it To Time a BottomWhether or not we have truly seen bottom in the crypto market remains to be seen, but as I mentioned in my BTCUSD analysis(), NANOUSD is the coin that helped me to see the bigger picture. Why? Because I decided to compare it with an old BTCUSD bubble cycle from 2011, when it similarly rose from cents to around $30, only to crash back to $2. I used some simple math to predict the absolute bottom range for NANO before it happened: In 2011, (looking at the LOG GRAPH ONLY), the jumping off point of BTCUSD (low before the rise) was around $0.68. It then skyrocketed to around $29.60. It then declined to a low of $2.05, which is a factor of around 3 from $0.68. If you apply this math to NANOUSD at the end of 2017, you see that it began its parabolic rise around $0.20-30. It's important to note that while the coin was trading at a low of $0.10 before the rise, that is not when it really jumped If you multiply this range by a factor of 3, you arrive at $0.60-0.90. The average of this range is $0.70. I thought originally that BTCUSD would have to crash to 4K for this to happen, but NANO did this independently on August 13th, 2018, so I bought some more around $0.85 after I saw it reversing quickly, because I thought why not? Wish I had bought more though, but I didn't want to risk much at that point. Picked up a couple of other coins on that drop, because it seemed like a true capitulation event to me. The alt buying at that moment is what saved Bitcoin from dropping below 5.8K, in my opinion. In any case, currently after its huge reversal, it has cooled off considerably. This was to be expected. We are now in the process of forming an Adam & Eve bottom, with a base around 26k satoshis. If we drop below there, we should find support before 20k, but I think this will be the base. We also keep getting rejected off 29-30k (as we just saw today as well). Just as BTCUSD stayed in the $5 range for six months before finally starting another bull run, NANO will likely do the same in this $1.80-2.00 range. It's interesting to note that this is an increase of 2.67 from its bottom at around $0.75, whereas BTC stagnated at a factor of 2.5 from its bottom in 2011. I expect NANO's adoption cycle to play out similarly, and we may see an enormous pop in the near future. 6 months from August 13th is around Valentine's day, 2019. Let's see what happens. It could pop sooner, as the market cycles seem to have sped up a little. This is another coin I expect to use once adoption increases. BUY: 2600-3000 STOP LOSS: 2600 (although stop losses in crypto are dangerous. Someone can market sell into supply at any time and flush you out before a parabolic rise. Happened with LTC last December) SELL: 6000 Short term previous strong support turned strong resistance 8000 10000 14000 ?????? This is not a recommendation to buy or sell, and I am not a qualified financial advisor. This is one of my own investments, and a vision for how this could play out in the future. Of course, NANO could fail as a currency, but currently a lot of work is being done on improving it and it is being accepted by more merchants every day. This is an example of how belief works in emerging forms of money. NANO has a strong group of believers behind it, so I'm banking on it succeeding. -Victor Cobra
NLong
by VictorCobra
1
NANO is Going to $7.50. NANOUSD +350%Hello Traders! I am here to provide some much-welcomed GOOD NEWS! NANOUSD: Target = $7.50 We could see a little bit more of a pullback, but the retrace target is clear to me. Mind you, this idea could be invalidated if Bitcoin breaks below $6200. However, I do not believe Bitcoin will do that. If you have ever followed my analysis in the past, I am an avid user of Fibonacci Analysis, and at identifying fractal patterns. Patterns repeat, OFTEN. And right now, in the alt coin market cap, we have a fantastic opportunity in front of us! We have a fractal pattern that I have identified numerous times in the past, and it’s time for some much needed bull movement, after nearly 5 months of downward pressure. If you view my previous analysis on Bitcoin here, and press the “Play” button on the chart, you will notice a pattern I was able to easily identify and project the retrace target: We have this exact same setup in the alt coin market cap at this time. IT IS IDENTICAL. For our next move up, the target for the alt coin market cap is $216-$234 Billion. With our current market cap sitting at about 100 billion right now, that leaves some room for some serious up moves for our favorite alts. What happens after that retrace target to 230 billion has been reached is still up for debate. However, this fractal takes us to AT LEAST that target of $216-$234 Billion. We also have a nice pitchfork lined up here on Bitcoin indicating that this COULD be the bottom. It has held the 2013 trend and has now bottomed the pitchfork. If Bitcoin breaks below $6200, this idea is likely invalidated. So, keep a close eye on Bitcoin! As we head towards our target, there may be a lot of up and down noise on the chart. There will also be a lot of noise here on TradingView with ideas calling for gloom and doom, and charts calling for the absolute moon. We are not concerned with any of that. We are interested in reaching our target and getting out! We will wait for the next setup after that and determine our next move. But for now, we have a plan! As always, this is just my analysis. Any decisions you make based on my analysis and opinions are still your own decisions, and your own responsibility. So, if you decide to trade based on this analysis, just know, you are your own financial advisor and decision maker. We have no fear! We have no greed! We have a plan and we will execute it! Good luck to you all! May you have a wonderful day! Please like, comment, and follow!
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by SecludedJ
[NANOBTC] Highest volume since Feb. (Retrace incoming - BUY-IN)After such a huge growth, from 0.000127 bottom on 14 Aug to 0.000567 yesterday, it is safe to say that it is time for NANO to retrace. Here are the next support levels based on the Fib. extension tool: (1) 0.000398 (2) 0.000347 (3) 0.000295 (4) 0.000230 If I wanted to buy-in, rebuy or reload some NANO, I would do so between #3 and #4. The size of the retraces will really depend on the market and how good NANO does. If the retrace isn't strong enough, then between #2 and #3 should be your entry point. We will have a better picture after a few days, but sit back, watch and relax to see how far it can retrace. Also, since NANO was early and strong on its take off, tracking it might give us an idea on how the other alts / Binance coins will also move. Thanks for reading. Please like, share, comment and follow for more trade ideas. Namaste.
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by AlanSantana
18
NANOBTC - A positive overview on different timeframesHi There, Nano is showing some good potential on the last week even with a weak market and it could be bottoming. My main targets will be according to fib retracement and some key points. If market turns on the next months, we could be touching them pretty easy. Buy Range : 2800-2900 Stop Loss : Close Cadnle Below EMA 20 at Daily/4H or Good point to HODL for Long-term players Target 1 : 4000 Target 2 : 6600 Target 3 : 8800 WEEKLY CHART - Nice Weekly/daily Volume action - Weekly SAR near to turn positive DAILY CHART - On the daily, Good support by EMA20. Looking to be supported by MA50 - On the daily, MACD crossed and a very strong move 4H CHART - Supported by EMA20 - Ichimoku cloud broken and it stay above - Clear Trendline to put SL if it any candle closes below it Conclusion: Nano like others altcoins has lost a lot of value. Its being accumulated and bleed has stopped for now. Thats a good signal because its the best point to buy if you believe isn't going to 0 VALUE. We can expect x3-x4 profits when markets turn to bull in a new altcoin cycle. Best luck
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by MikeCryptoSignals