Nexus (NXS): Two Potential Corrective Pathways
Nexus (NXS/BTC) shows frequent vertical price moves and is the strongest evidence of severe lack in liquidity. IF you own this coin and again see it going up vertically; it's ideal to start taking profits because such vertical moves cause 88% to 92% retracements. However, as Nexus becomes more widely held, listed on more exchanges and trading volume increases; the liquidity trap would not be as evident. The below chart shows an ABC corrective price pathway but it might be too simple. Regardless, a lower low often follows a vertical move; case in point the smaller second vertical move needs to be processed in price churn.
The more likely pathway might be as shown below in blue. IF the WXYXZ has it so that the Z wave becomes an abcde triangle pattern; it could bring the correction well into the April time zone. This would fit the makings of a complex combination correction.
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