NXT run does not seem it be over. It is not very affected by Bitcoin's run and I think this will be a nice opportunity to find life in alts while Bitcoin is having its fiasco. Highly likely retrace to retrace to .382 level, likely to retrace to 0.5, possible to retrace to .618. Will have higher likelihood of retracing to the .618 level and maybe a little lower if Bitcoin experiences another near term retracement. I personally would not hold this past December 10th, would wait to see where this correction takes us after the CBOE futures are in place.
Buy In: $0.503-0.593
Stop Loss: $0.483
Target 1: $0.831
Target 2: $0.869
Target 3: $0.914
0.5 Fib to Target 2:
Chance to Gain: 58.56%
Chance to Lose: 11.72%
Risk to Reward: 5:1
Good luck!
Buy In: $0.503-0.593
Stop Loss: $0.483
Target 1: $0.831
Target 2: $0.869
Target 3: $0.914
0.5 Fib to Target 2:
Chance to Gain: 58.56%
Chance to Lose: 11.72%
Risk to Reward: 5:1
Good luck!
Comment:
Trade Open. NXT showing to hold well during BTC temper tantrum. I see Bitcoin doing just fine from now 'til this weekend. NXT should kick off by the early morning.
Comment:
A few things have changed here. First of all, sorry for the chart, because I was using the wrong exchange. I use bittrex, and there is a somewhat significant different in the price between that and Poloniex. It just came very very close to hitting the critical level to hold. It is mainly due to Bitcoin falling a bit. Do i know if Bitcoin will fall more? Hell no. But I think there is a chance, But i do firmly believe that Bitcoin has another run up to $21-22k before a major pullback. Why does this matter for NXT? because its an alt. And alts follow Bitcoin whether we like it or not. So because Bittrex looks a little different (chart wise), I think we can combine the two price chart and come up with a mutual conclusion. I still think the entry prices and prices to hold remain the same. If you are in right now, I think you are good (for now). The critical line to hold is still the $0.483 level. But what has changed are the targets.
I believe wave 3 of the primary wave is complete and we are still working on an ABCDE correction for wave 4. I think its working a similar pattern with Bitcoin to complete before the wave hits the top.
NXT may hit the critical level to hold because I actually think there is a possibility for Bitcoin to drop to the mid $12500 area or even lower before it starts its next uptrend. So I'm actually going to stick to my guns and make this a longer term play with no stop loss. I do NOT advise to do that but I just like to eat nails with no milk for breakfast so I'm all in. That being said, the target prices are different. I think it will hit between the $1.04 and $1.10 area before it joins Bitcoin on a larger retracement.
If you joined in. The stop loss has been reached, and you should get out if you do not feel comfortable. But I want to take the risk on this one so i'm staying in until we see daylight.
Safe trading!
I believe wave 3 of the primary wave is complete and we are still working on an ABCDE correction for wave 4. I think its working a similar pattern with Bitcoin to complete before the wave hits the top.
NXT may hit the critical level to hold because I actually think there is a possibility for Bitcoin to drop to the mid $12500 area or even lower before it starts its next uptrend. So I'm actually going to stick to my guns and make this a longer term play with no stop loss. I do NOT advise to do that but I just like to eat nails with no milk for breakfast so I'm all in. That being said, the target prices are different. I think it will hit between the $1.04 and $1.10 area before it joins Bitcoin on a larger retracement.
If you joined in. The stop loss has been reached, and you should get out if you do not feel comfortable. But I want to take the risk on this one so i'm staying in until we see daylight.
Safe trading!
Comment:
I'm going to be uploading a new post on NXT very soon. 2 very different outcomes are in my eyes right now.