Nexium found the support at 1140 satoshi that was confirmed by a 427.2% Fibonacci retracement level applied to the corrective wave after the uptrend trendline breakout. There was a very clean support rejection and besides this the previous bottom price of the Nexium back in the end of 2016.
This is indeed a key price for NXC/BTC and while the support is being rejected, it could result in a huge turnaround in favor of the Nexium. The price could potentially just 5-10 times, but of course, it yet to be seen and it could also be just a corrective wave up.
Nevertheless, the growth potential is huge, at least compared to the risk. Only a daily close below the 10k satoshi psychological support could invalidate bullish outlook.
This is indeed a key price for NXC/BTC and while the support is being rejected, it could result in a huge turnaround in favor of the Nexium. The price could potentially just 5-10 times, but of course, it yet to be seen and it could also be just a corrective wave up.
Nevertheless, the growth potential is huge, at least compared to the risk. Only a daily close below the 10k satoshi psychological support could invalidate bullish outlook.
Comment:
Now its the Nexium time
Trade closed: target reached:
closing now at 4700 sat, correction is possible, break above 5k should establish a continuation of the uptrend.