Hey, I am back with another Technical Analysis, this time looking at Nano.
Instant transactions - Zero fees - Infinitely scalable, that is Nano.
As Bitcoin has bounced today from its RSI daily oversold level as I predicted
which led to many alts bouncing too.
Okay, lets just look at chart.
2 uptrends,
2 downtrends lines,
3 start/end cycles vertical lines.
They also are very close to MACD trend changes. So I can say that second cycle should be over by now if Nano can push above EMA line. Downtrend was broken, it still may fall below 5500 as todays candle isnt closed yet, which would mean this Downtrend is still active so be wary of this.
Lets continue by looking at Indicators.
MACD looks ready to change his trend, less and less sellers.
RSI got oversold twice, which was enough for Nano to bounce.
50MA shows that Nano is strongly oversold.
EMA acted as ressistance, I am keeping my eye on you EMA.
I got position at 5148 sat, good isnt it?
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord channel!
Hope I made your view on whats going on with Nano somehow clearer.
If you like this Technical Analysis let me know in the comments, likes are always aprreciated, Thanks !
If I see something worth to share on the chart I will surely do an update.
Instant transactions - Zero fees - Infinitely scalable, that is Nano.
As Bitcoin has bounced today from its RSI daily oversold level as I predicted
Okay, lets just look at chart.
2 uptrends,
2 downtrends lines,
3 start/end cycles vertical lines.
They also are very close to MACD trend changes. So I can say that second cycle should be over by now if Nano can push above EMA line. Downtrend was broken, it still may fall below 5500 as todays candle isnt closed yet, which would mean this Downtrend is still active so be wary of this.
Lets continue by looking at Indicators.
MACD looks ready to change his trend, less and less sellers.
RSI got oversold twice, which was enough for Nano to bounce.
50MA shows that Nano is strongly oversold.
EMA acted as ressistance, I am keeping my eye on you EMA.
I got position at 5148 sat, good isnt it?
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord channel!
Hope I made your view on whats going on with Nano somehow clearer.
If you like this Technical Analysis let me know in the comments, likes are always aprreciated, Thanks !
If I see something worth to share on the chart I will surely do an update.
Comment:
You can see how EMA acts as ressistance.
Comment:
Failed to break huge sell wall at 5701
Comment:
I would be careful as Bitcoin havent finished its cycle yet.