Yes, other TA folks are correct in noticing that this is about where it was before that massive pre-snapshot run-up. That's because the whales pulled out to save their gains, then others panicked and went elsewhere. That's also typical of news runners. Not to mention NXT has bearish sentiment due to the idea that it will be phased out against ARDR and future sidechains. However, there are other news/ rumor topics that can make NXT run through association with Jelurida. Example:
nxtplatform.org/intr...gy-without-friction/
Use what happened to LSKBTC back in November when people sold the news as a case study here. You got multiple bear traps all the way down to one of its strongest support lines, where the 200 MA touched previously. I think we'll see something similar in NXT as I'm expecting a sell-off of Ignis and ARDR as soon as everything goes back online Jan 1st.
On that note I'd hold off on NXT to buy it around 3300 to 2700 range depending on how a likely BTC drop to 8600 levels will affect the alts.
I notice that the BB are squeezing, so a bear trap here may be ready to play out. I don't expect a trend change anytime soon, though.
nxtplatform.org/intr...gy-without-friction/
Use what happened to LSKBTC back in November when people sold the news as a case study here. You got multiple bear traps all the way down to one of its strongest support lines, where the 200 MA touched previously. I think we'll see something similar in NXT as I'm expecting a sell-off of Ignis and ARDR as soon as everything goes back online Jan 1st.
On that note I'd hold off on NXT to buy it around 3300 to 2700 range depending on how a likely BTC drop to 8600 levels will affect the alts.
I notice that the BB are squeezing, so a bear trap here may be ready to play out. I don't expect a trend change anytime soon, though.
Comment:
One more thing to point out. The Vix Fix indicator shows that the asset has found a bottom in between the 3100 to 3900 range from the 28th to the 30th Dec, as indicated by the tall, bright green bars.
Trade active:
BB are squeezing real tight. Sentiment is still bearish.
Trade closed: target reached