NXT Update: Bullish & Bearish
I'm going to present both the bull and bear scenario for NXT as I'm split between the two but slightly leaning towards bullish. Here is the bullish chart. As you can see, waves 1,2,3,4,5 placed nicely with the usual extended 5th. The requisite abc (red) seem fine, but placing the wave i and ii is not with such high confidence. It works...for now but need to see further price developments.
And here is the bearish scenario. Mostly because of what the Bitcoin Bear can influence. This chart shows that c (red) is not yet complete and more downside, closer to wave 4, is probable.
However, when looking at the short term, 7 day chart, the below can be seen. If this Head and Shoulders Bottom pattern completes in that prices form the Right Shoulder (RS) (green swirl lines) and price then busts above the neck line, then prices can race up to $0.1455. The minimum target was calculated by finding the difference from bottom of the Head (H) to the Neck Line (black line) and adding that to the Neck Line level price.
So, given this H&S bullish short term, I lean more towards bullish but still split. Sorry, but I'm calling it as I see it.
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Thoughts on WTC?
I just buy everything and hope it all works out :p. Good post @haejin. I am watching.
Thank you very much @haejin for all your insight and help. You are very much appreciated and I was referred to you by someone who follows you. I hope you get more followers and I wish you all the success in the world.
Thanks
Thanks again for you updates Haejin, especially for BTC. Would you mind taking a look at QTUM and PAY if you have time?
whats your take on NEO at this point?
Good points in this post. I was about to post a similair thread. Cryptos will probably go through a more extreme pattern that bitcoin went though. High ups and high downs before it becomes stable. We do need more indept investment analysis. Do you know this interesting site? https://www.coincheckup.com This site gives a complete analysis and investment stats on every single tradable crypto out there.