BITTREX:NXTBTC has suffered from quite the drop since the IGNIS airdop event. It was well known that NXT was likely to drop after the airdrop but the severity of the drop was surprising to say the least. I sold below entry and have been waiting for an opportunity to re-enter as what goes down must come up. I expect NXT to recover soon but it is unclear at the moment how much ground it will be able to cover as it is likely that there are still sellers waiting for the price to rise before continuing the selloff.
At the moment, however, it would appear that NXT is searching for support after a 50% retrace and possibly preparing for a reversal. It is currently oversold on the 4HR and TD Buy Setup is almost complete (Bullish TD Flip). It also appears that a very brutal Elliot Wave ABC correction is nearing completion.
Though I would advice a great amount of caution, this my be a good price level to enter NXT (or if your still holding from the dump, a more forgiving exist may be on the way).
ENTRY: <4200 (3900-4200) TARGET: Possible Targets and TP's on the Chart
I haven't been posting as many ideas due to most on my time being spent on building indicators/a telegram alerts bot with the hopes of sharing them with you in 2018. Message me if you if you wanna get the jump on these or just wanna talk about TA as always.
Had a few requests for a more specific ENTRY so here's a possible breakout trade from a falling wedge on the 30min
Komen
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So, NXT broke out of the falling wedge (in case your missed it). Entry suggestion is still the same. Price may pullback here as BTC bounces but the entries at this point are speculative but possible. Looks like theres more room to rally though (good volume, finding support on 50% Fib). Above all else, use your own discretion.
As a side note, if you are not in any trades currently, consider taking a break in USDT and enjoy the New Year Celebrations =]
Komen
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Komen
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Looks like I didn't update this when 1st TP was hit. Looks like pullback reaching completion and NXT gearing up to test .00005000/.00005500 resistance again. Idea Update on the way
@cryptoswitch, Hey, thx for your nice analyse. On 4 hour chart, RSI is still overbought 36, last bearish was like nothing, the bullish one is strong and macd crossed like strong, to me it's a really great opportunity!