NANO IN A BULLISH TRIANGLE FORMATION!Happy Weekend trading+!!
This will be my last post before a busy weekend, including the beginning of week.
NANO/BTC short term messing around, which is quite a positive sign of stability and resetting of indicators.
As you can see from the chart. It did not, and usually it does not, directly shoot up to wave 3, until it stabilizes solidly on wave 2, while all the shorters and weak hands run out of selling ammo.
This is a Bullish symmetrical triangle, which we can assume from it having higher lows, after touching the bottom of wave 2 at around 5180.
This is also confirmed by the MACD , especially on the 1 day frame, in which it's coming closer and closer to intersection(not shown on this chart as this is relatively short term).
What do I see next for NANO/BTC:
a) Potential breakout on D, if not, E is not too far off. The short term MACD/RSI would also be pressurized enough to reach a point of a breakout(above the 4hr cloud, or approx above 5800)
b) Once NANO/BTC enters the cloud on the 4 hr time frame, it'll become neutral, leaning more towards a bullish out break, and supports/accumulation of buy zones will be formed.
c) As long as bitcoin is looking good, and currently it just entered the cloud on 4hr frame becoming neutral, I'd have quite positive expectations in terms of price for nano/btc as well.
Overall, I haven't traded this symmetrical triangle, it's quite difficult and simply not worth it and I haven't had a lot of time to analyse it in a thoroughly these past 1-2 days.
Disclaimer:
//This is not a buy/sell sign, you decide what do to with your own money!//
NANO/BTC short term messing around, which is quite a positive sign of stability and resetting of indicators.
As you can see from the chart. It did not, and usually it does not, directly shoot up to wave 3, until it stabilizes solidly on wave 2, while all the shorters and weak hands run out of selling ammo.
This is a Bullish symmetrical triangle, which we can assume from it having higher lows, after touching the bottom of wave 2 at around 5180.
This is also confirmed by the MACD , especially on the 1 day frame, in which it's coming closer and closer to intersection(not shown on this chart as this is relatively short term).
What do I see next for NANO/BTC:
a) Potential breakout on D, if not, E is not too far off. The short term MACD/RSI would also be pressurized enough to reach a point of a breakout(above the 4hr cloud, or approx above 5800)
b) Once NANO/BTC enters the cloud on the 4 hr time frame, it'll become neutral, leaning more towards a bullish out break, and supports/accumulation of buy zones will be formed.
c) As long as bitcoin is looking good, and currently it just entered the cloud on 4hr frame becoming neutral, I'd have quite positive expectations in terms of price for nano/btc as well.
Overall, I haven't traded this symmetrical triangle, it's quite difficult and simply not worth it and I haven't had a lot of time to analyse it in a thoroughly these past 1-2 days.
Disclaimer:
//This is not a buy/sell sign, you decide what do to with your own money!//
Idea Berkaitan
