Airobot

This Chart Tells Nothing >:(

BITTREX:NAVBTC   NAVCoin / Bitcoin
This is an analysis of NAVBTC             , feel free to comment. The indicator TD             sequential is not used in this chart but I felt it was important to try it on NAVBTC             . We can see that the bollinger bands are getting thinner, and this usually indicates that it will expand to either side. The volume is quite small for NAVBTC             so it may not even move fast. A descending triangle (looks like) has been formed which indicate that the price could be falling down. This could also be a falling wedge . Stochastic oscillator and RSI is near the oversold area but it looks like there are some room for downtrend still. I expect a support at 0.618 fibonacchi and if that doesn't last then a possibility for drop to next support level or lower is possible. A candle that closes above 200 EMA , pinkish line, could indicate a bullish trend upwards. Candlesticks do not show that much indication where the trend is heading. In case of a bullish run, target would be around the area of green exclamation mark.

In this situation, the price could go sideways with slow moment downwards. If a BTC             crash happens then expect NAV             to drop down to previous support level at least or lower. Personally, I don't see any trade opportunity at the moment. In case of the price shooting up, the pink line will probably be tested.
评论: TD sequential count is wrongly displayed.