$NAV/BTC Poloniex Technical Analysis Dec 1, 2016: Continuing Gartley Pattern Formation (Potential 10% Profit)
Hey guys, I was watching NAVCoin for a few days and it is continually forming Gartley Patterns. So I thought it would be good if I can share with you my analysis of NAV. I am using hourly chart for the technical analysis (TradingView) of the coin. According to the analysis, it is going for another Gartley pattern (Inverse). Actually there are two Gartley pattern at the same spot (inverse and straight) pattern.
If it followed the pattern then there is a potential profit of 10% i.e Buying at 0.00004000 BTC and selling at 0.00004400 BTC. If we look at the history of NAVCoin, it is forming a lot of Gartley Pattens and most of it are 10-15% profitable. So there is a high probability that is going to follow another pattern.
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To hit a 10% upmove in a major downtrend seems too dangerous for me.
Upvoted anyway.
If we follow the previous structure then there is very good probability that is is going to hit 0.00004400. Also there is a good support level at 0.00004000 BTC
Bouncing.
YO!! :D
fantastic TA. we need more TA of BTC-USD also :)
Thank you Buddy! Yeah Sure!