$NXT did a nice move up and is currently consolidating and forming a bullish continuation pattern.
Current price action is indicating accumulation.
2 sceniaros from here:
1) a possible break out to the upside for a run towards at least 0.00075. Wait for the breakout to buy, put an alert on the upper trendline. Dont buy now because of scenario 2:
2) a completion of ABC correction because of the bearish divergence in MACD. Wait for a break out to the down side and buy near the blue box for a much better profit run to 0.00068 at at least.
I will try to update when important moves happen.
Happy trading!
Current price action is indicating accumulation.
2 sceniaros from here:
1) a possible break out to the upside for a run towards at least 0.00075. Wait for the breakout to buy, put an alert on the upper trendline. Dont buy now because of scenario 2:
2) a completion of ABC correction because of the bearish divergence in MACD. Wait for a break out to the down side and buy near the blue box for a much better profit run to 0.00068 at at least.
I will try to update when important moves happen.
Happy trading!
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Update: price bounced of from the upper trenline and went down....broke to the downside and the retest failed. Looks like we might see some more downside, forming a smaller ABC. Moved the blue box a little bit up
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Scenario 1 seems to be playing out.
Price broke out to the upside suddenly. I would advise to wait for a pullback from this sharp upmove. RSI almost overbought on 240.
Target still valid.
Price broke out to the upside suddenly. I would advise to wait for a pullback from this sharp upmove. RSI almost overbought on 240.
Target still valid.
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Target reached
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Possible next scenario, 1 more leg up
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Made the correction
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2nd target reached
