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:
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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.