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XNOUSD trade ideas

NANO - where are we?NANO is creeping back to our consistent 4hr trendline. As we update many cryptos after this DUMP, we see this selloff was quick and we are closing in our original trendlines. We are extremely bullish in this market as we look well beyond the technical analysis and look for which cryptos will stand long term. NANO is another top crypto, one of the first Directed Acyclic Graph (DAG) based cryptocurrencies improving system performance and security with every purchase. ------------------------- Which coins to buy? What do these coins do? Please message me for the top altcoins each week- track my success Please message me for 'beyond the chart analysis' Please message me for information on the latest (ICOs) Initial Coin Offerings; How to buy altcoins before they are tradable.
KRAKEN:NANOUSDLong
by ManhattanBeachCapital
1
Choose a decentralized currency that makes senseIntroduction While I personally am a fan of central government management of monetary policy because it gives us great tools for managing crime and recessions, I'm not opposed to trying decentralization and seeing where it takes us. Decentralization helps fight the concentration of power and wealth, and it's a good old democratic tradition here in the United States. Decentralized currency may be the future, but Bitcoin isn't it I'm not convinced the world is likely to adopt any cryptocurrency whose value fluctuates wildly enough to make it attractive to investors. But if you insist on speculating on decentralized currencies, I suggest choosing one that makes economic sense. Barring a game-changing fork, Bitcoin is not the future of cryptocurrency. Its energy requirements are just too vast. Every Bitcoin transaction uses as much electricity as an American household uses in a month (~730 KWh). That's about $96 per transaction if the processing were done here in the US. (Most Bitcoin transactions are actually processed in the developing world where costs are cheaper because air pollution is unregulated and miners can pump out all the carbon they want.) Bitcoin transactions are about 50,000x more energy intensive than Visa and Mastercard transactions. To process 350,000 transactions per day, the Bitcoin network is approaching the energy consumption of Norway. Visa processes 150 million transactions per day, so you can imagine the energy costs if Bitcoin scaled up to Visa's size. In no way is this a technology that makes economic sense. Alts that make more sense There are some alts that do a lot better than Bitcoin on the energy use front. Ripple (XRPUSD) is one of the more famous ones. Another is Nano (XRBUSD). These alts have much lower energy costs per transaction than Bitcoin does. For instance, Nano transactions reportedly use only 0.000112 kWh of energy per transaction. Thus, the entire Nano network could be powered by a single wind turbine. That's much less than $0.01 per transaction in energy cost. (I've seen the cost estimated at about hundredth of a cent.) Nano is roughly 550,000 times more efficient than Bitcoin. Ripple is another one that's incredibly energy efficient. Ripple reportedly uses 0.000011 KWh per transaction, making it even more efficient than Nano. Ripple, however, is slower than Nano by a factor of three. It's also not truly a decentralized currency like Nano is. It's owned and operated by a private company, Ripple Labs. From a speculator's point of view, Nano is probably a better bet due to limited supply. The supply of Ripple is capped at 100 billion coins, but the current supply can triple before it hits that limit. Nano is already at its supply cap. Limited supply means the price of Nano coins could rip. Of course, from an adoption point of view, the limited supply of both these coins is problematic. It creates a scalability and price volatility problem that could prevent either coin from being adopted widely as a medium of exchange. Don't get stuck in a Bitcoin rut I believe we will see a lot more innovation in the digital and decentralized currency space. There are a lot of problems to be solved, and I don't think we've seen a single currency that solves them all yet. In addition to energy, speed, and price volatility, you've also got to think about privacy, security, and government compliance. How to secure cryptocurrencies against the rise of quantum encryption-breaking is just one of the huge problems that cryptocurrency innovators face. Given these challenges, I think it's a huge mistake to get stuck on a single cryptocurrency solution like Bitcoin. Bitcoin was first to the gate, but it's unlikely to be first to the finish line in my opinion. Investing in crypto requires deep research and deep thought about what the problems are and which technologies solve them best.
KRAKEN:NANOUSDLong
by ChristopherCarrollSmith
10
MY NANOers!!!40% and hit a beautiful ATH!! That's the good news... HOLD THE LINE - things are getting choppy Horrible day, with TOTAL2 down From about $1.45T to $1.25T looks like finally may be turning around.. 20% dips.. I'm prepared Will give ideas updates when things get back to normal? ------------------------- Which coins to buy? Please message me for the top altcoins each day - track my success Please message me for information on the latest (ICOs) Initial Coin Offerings; How to buy altcoins before they are tradable.
KRAKEN:NANOUSDLong
by ManhattanBeachCapital
NANO - A strong uptrend | Another price correction?The NANO market has a created a horizontal trend channel. As you can see in the 4-hour candle graph, the resistance line has been tested three times before it broke down(marked with a circle). We could probably see a price correction when NANO breaks over the resistance(opposite of last time). Or we could see a similar drop in price. I would wait for 2 green / red candles on both sides of the channel before placing my trade to make sure it's not a trap. Comment below what you think is going to happen, and why? What is your trading plan? If you like the idea, do not forget to support with a like and follow.
KRAKEN:NANOUSD
by abrohit
1
NANO - A strong uptrend | A price correction?The NANO bullish market has created a very strong uptrend. I say the words very strong because the resistance line has 4 interactions with the 1-hour candles. The support too has 4 interactions with the 1-hour candles. Related to my last post on NANO, you can see NANO breaking the wedge and entering a bearish market. With this strong uptrend do we see the road back to 7.6 USD? “The trend is your friend, until the end when it bends.” Comment below what you think is going to happen, and why? What is your trading plan? If you like the idea, do not forget to support with a like and follow.
KRAKEN:NANOUSDLong
by abrohit
NANO - Will it break the bullish market?Similar to my previous post on CARDANO, there are two possible scenarios(Descending Triangle): Scenario 1 - It falls below 4.80 USD. For this scenario, the 1H candles need to drop below 4.80 at the vertex. This could possibly make 4.80 the new resistance. Scenario 2 - It bounces from 4.80 USD to possibly break past 7.60 USD. For this scenario, the 1H candles need to break at the vertex and break above the downward trendline. Always follow your trading plan regarding entry, risk management, and trade management. Which scenario is more likely to happen in your opinion and why?
KRAKEN:NANOUSD
by abrohit
NANO - Most likely rising sooner than laterUpdated analysis on NANO, looks unlikely to break below the support at 6.0 and fill out the XABCD. Monitor for large candles breaking above the wedge or below the 6.0 support. Blue path most likely - break through the wedge and then likely bounce off that trendline as support. Purple path still possible, a retest of 6.0 and then a decision at the end of the wedge. Red path unlikely but would represent good buying opportunities for those who are bullish long term.
KRAKEN:NANOUSDLong
by dpatt712
NANOUSD 1H Concurrent/Contrasting Harmonic Patterns?Hi guys! I'm still learning TA - any feedback is most welcome! Looks like there could be two contrasting XABCD patterns forming, looking at the 1H chart of NANOUSD. The Blue XABCD would end around the 5.2 area which could be a good spot to be looking for buy opportunities. The ending of the Blue corresponds with the CD leg of the green pattern and both suggest growth from that 5.2 area of support. Fib retracement and the green XABCD suggest there might be a big correction around the 9.7-9.8 area. I'm still mostly practicing and not even 100% sure if I'll be taking my own advice so you definitely shouldn't! I want to publish this though as a challenge to myself. Any suggestions for improvement?
KRAKEN:NANOUSDLong
by dpatt712
2