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NKN / TetherUS

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NKNUSDT trade ideas

NKN/USDT Inverse Head and Shoulders Update:Overview : The IHS pattern is underway on larger time frames, confirmed r/s flip on smaller time frames. Analysis : NKN/USDT looking healthy with a decent influx of volume overnight. Expect more volume if larger time frames confirm continuation (at the earliest tomorrow, latest by Saturday evening). Our targets are more or less aligned with resistance levels. See chart for those numbers. If we use the most conservative calculations of a standard Inverse head and shoulders pattern, the final target puts us in the .08-.09 range. Profit-taking is encouraged along the way. Deeper Dive : It is important to remember that BTC and USDT pairs have a symbiotic relationship. It is entirely possible that breaking resistance on the BTC chart will push the USDT pair through resistance lines indicated on this chart. The reverse is also true. There are several additional lines of resistance on the BTC pair, however, due to the strength and symmetry of the pattern in play on this USDT pair, I am expecting the USDT pattern to take the upper hand in a friendly BTC environment. If BTC changes course suddenly, manage risk, or walk away for a week. Comments : The pattern is playing out very nicely, and should continue to gain momentum in a neutral-positive btc trading range. This pair has an overwhelming amount of potential in a healthy altcoin/btc environment. If BTC falls off course, or needs time to correct, be sure to include that in your trading strategy. Final Note : The NKN team has an AMA August 13. The information presented and exchanged in that meeting should help investors understand the progress and future development of the NKN project. Be safe, good luck! "Every day is a little life, every waking and rising a little birth, every fresh morning a little youth, and every going to rest and sleep, a little death." -Schopenhauer
Long
by Socraticpause
NKN/USDT pair looking ready to test a textbook necklineOverview: NKN/USDT is coming up on a crucial test of prior resistance, including the neckline of a textbook inverse head and shoulders pattern. Analysis: The 3-day chart suggests a pretty hefty line of resistance at the 0.03 area for NKN/USDT. This is not only prior resistance, but also a perfect alignment with a massive, inverse head and shoulders pattern. If NKN breaks out of this range, there is very little stopping it from taking off to new highs in a very short amount of time. If we use the technical measures to indicate potential upside from the neckline, we would have a final target of 0.093 (try charting that, it looks ridiculous, but it is technically accurate). If, however, the breakout fails, I would expect a minor, perhaps swift correction to the nearest local support in the 0.027 area before trying to break the line again. Deeper Dive: As we have seen with other coins of this market-cap class, the gradual influx of buy/sell volume lets you know something is brewing. NKN's volume is slowly increasing, and at some point, due to the line of resistance/neckline it is facing, that volume will necessarily spike. Whether that is to the upside or down, depends largely on factors beyond the scope of the NKN project. This is where it becomes very important to watch bitcoin's price action, and the market's sentiment in general. Comments: I am admittedly bullish on this pair due to a confluence of timing and technicals playing out. Bitcoin need only move up gradually or trade sideways for a few days for this breakout to materialize. If anything happens too quickly in the BTC charts, all bets are off (as usual). Final Note : Although I am intrigued by the scope and developmental aspirations of the NKN team and their focus on privacy, I am perhaps even more optimistic about the potential setup we see in the technical analysis. That said, don't abandon your risk management strategy - at any cost. Good luck. "Every day is a little life, every waking and rising, a little birth, every fresh morning, a little youth, and every going to rest and sleep, a little death."
Long
by Socraticpause
The New Kind of Network vs TetherUS (Bullish vs Bearish)NKN Overview About NKN NKN bills itself as a 'new kind of P2P network connectivity protocol' that is powered by a public blockchain. NKN is used to incentivize Internet users to share their network connection and unused bandwidth. NKN's describes its networking infrastructure as 'open, efficient, and robust', thereby enabling application developers to build the decentralized Internet. Whitfield Diffie, inventor of public key cryptography (Diffie-Hellman) and 2015 Turing Award winner, and Stephen Wolfram, Founder and CEO of Wolfram Research, are listed on their publications as advisors for the project. The New Kind of Network (NKNUSDT) is starting to look good with prices now moving above EMA10. We have a volume breakout and bullish indicators (MACD and RSI). When we look at the shorter-timeframe, 4H, we can notice prices moving above resistance: If the purple trendline can be conquered, we will see prices jump next. Thanks a lot for reading. Namaste.
by AlanSantana
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