Yup, it's another NXT idea...
With the whole market in a somewhat complex correction,
NXTBTC
is not an exception (Now, I understand why the argument that NXT is a dead coin has been made but I disagree: The project has been around since before the crypto craze that began last year and NXT will still play a role in its growth as it has with ARDR and IGNIS). Now that I've got that out of the way, Here's a chart showing some important Gann angles and as you can see, NXT has been slowly making its out of its bearish angle on the 4HR, towards a more horizontal one. Strong support is holding around the .00003000 level and the heavy buys at this price level would confirm that the NXT downtrend is coming to an conclusion. In addition, this current Elliot Wave correction pattern is indicative of an ending diagonal (another indication that reversal is near). I've been bullish on NXT so for the sake of transparency my hopes for a reversal may stem from this but the TA agrees. Despite the constant extensions of the downtrend and price suppression, NXT is on the path to a reversal.
Check out my telegram channel for entries, TP's, trade updates and more: t.me/cryptoswitch
With the whole market in a somewhat complex correction,
NXTBTC
is not an exception (Now, I understand why the argument that NXT is a dead coin has been made but I disagree: The project has been around since before the crypto craze that began last year and NXT will still play a role in its growth as it has with ARDR and IGNIS). Now that I've got that out of the way, Here's a chart showing some important Gann angles and as you can see, NXT has been slowly making its out of its bearish angle on the 4HR, towards a more horizontal one. Strong support is holding around the .00003000 level and the heavy buys at this price level would confirm that the NXT downtrend is coming to an conclusion. In addition, this current Elliot Wave correction pattern is indicative of an ending diagonal (another indication that reversal is near). I've been bullish on NXT so for the sake of transparency my hopes for a reversal may stem from this but the TA agrees. Despite the constant extensions of the downtrend and price suppression, NXT is on the path to a reversal. Check out my telegram channel for entries, TP's, trade updates and more: t.me/cryptoswitch
