BINANCE:NANOBTC had a good last week, confirming its current uptrend along with many other alt markets. BINANCE:NANOBTC has performed well and reasonably predictably. I have seen a few analysts calling for significant upside which I am not so sure about, for the following reasons:
- From a beyond TA view here has not been a ton of news and exchanges have yet to reopen their deposits
- The recent triple top should result in significant resistance around 8750
- We might expect a BTC correction this week which could correlate with bots moving money out of alts
Comment:
Steady day for nano today, with resistance confirmed a number of times just about 8400. Nano is currently a little less reactive to the resistance however, and any push through now would also coincide nicely with a bullish crossover on the 4hr MACD.
Comment:
Nano bounced nicely between supports today - unfortunately I was away and didn't trade! Currently setting up for another potential push through the 8800 resistance, after which I would see next resistance as 9200-9300 assuming a test of the 8800 holds...
Trade closed: stop reached:
Boo. Nano fell like a rock with BTC and hit my stop. I already traded some on the way down, but hadn’t anticipated how far tbhe drop would go. I’ll now wait for another entry as I’m not sure where things will go from here.