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NXT - 2 Possible Outcomes
Hopefully this screenshot works on here, I'm still trying to figure website out. However, I'm going to be posting a few possibilities that we have here, and they may be very very different, so it is important to watch closely and pay attention to all the indicators.
My view on this whole situation has changed. This first scenario to me seems the most likely. What makes my first analysis change is the crossover from the initial wave 4 into the zone of Wave 1. What this MACD is telling us is that we have 5 initial waves in the beginning, starting in Late november. You can even confirm this on the RSI, two very important indicators. What this leads me to believe is is that we are on course for 2 separate waves trending upwards, and what we witnessed was our first initial impulse wave followed by wave 2. Now I'm using the Poloniex chart again even though I use Bittrex, but this chart is just the one that makes the most sense to me.
If this is the case. It is very important that we break through the 75 cent resistance line. NXT is moving very correlated to Bitcoin right now, and I'm actually using it too hedge the progress of Bitcoin. Now, what matters here the most is market sentiment. Right now it is very bullish, and the progress of the Bitcoin Futures has not made the world burn just yet. That's why my target for Bitcoin still remains around the 21k-22k mark, and I think NXT should follow that pattern. Wave 2 retraced to a .786 Fib level, it is not uncommon, but what we have to recognize most is the market sentiment. When it retraced back to that level, Bitcoin was tanking, and so was the rest of the market. So in that case, it is not uncommon at all. Now when the market converts from a very short term bearish market to a bull market very quickly, like what we have seen, sometimes in the crypto market - extended wave 3s happen (because everyone loves that good ol' FOMO), and it gives room for larger retraces for Wave 4. So we must also watch out for that. However, if this is a second sub wave forming, then we have this possibility. It forms with the idea of Bitcoin breaking the $17,000 level again and heading for new highs. So make sure you keep up with the price of Bitcoin and overall sentiment.
So for this argument, Are first target is aiming for anywhere between $0.77 and $0.89. And a support line of the top of wave 1 will confirm this for us. Our second target will then go upwards of $1.05. BUT, This is all contingent on how Bitcoin does. Next update will be possibility #2.
My view on this whole situation has changed. This first scenario to me seems the most likely. What makes my first analysis change is the crossover from the initial wave 4 into the zone of Wave 1. What this MACD is telling us is that we have 5 initial waves in the beginning, starting in Late november. You can even confirm this on the RSI, two very important indicators. What this leads me to believe is is that we are on course for 2 separate waves trending upwards, and what we witnessed was our first initial impulse wave followed by wave 2. Now I'm using the Poloniex chart again even though I use Bittrex, but this chart is just the one that makes the most sense to me.
If this is the case. It is very important that we break through the 75 cent resistance line. NXT is moving very correlated to Bitcoin right now, and I'm actually using it too hedge the progress of Bitcoin. Now, what matters here the most is market sentiment. Right now it is very bullish, and the progress of the Bitcoin Futures has not made the world burn just yet. That's why my target for Bitcoin still remains around the 21k-22k mark, and I think NXT should follow that pattern. Wave 2 retraced to a .786 Fib level, it is not uncommon, but what we have to recognize most is the market sentiment. When it retraced back to that level, Bitcoin was tanking, and so was the rest of the market. So in that case, it is not uncommon at all. Now when the market converts from a very short term bearish market to a bull market very quickly, like what we have seen, sometimes in the crypto market - extended wave 3s happen (because everyone loves that good ol' FOMO), and it gives room for larger retraces for Wave 4. So we must also watch out for that. However, if this is a second sub wave forming, then we have this possibility. It forms with the idea of Bitcoin breaking the $17,000 level again and heading for new highs. So make sure you keep up with the price of Bitcoin and overall sentiment.
So for this argument, Are first target is aiming for anywhere between $0.77 and $0.89. And a support line of the top of wave 1 will confirm this for us. Our second target will then go upwards of $1.05. BUT, This is all contingent on how Bitcoin does. Next update will be possibility #2.
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Testing out the screenshot:/Users/Apple/Desktop/Screen Shot 2017-12-11 at 12.26.11 PM.png
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BAM got it. lol I am a novice at this.
Okay, so here is the second scenario. This isn't the first time NXT has seen a large impulse, it's actually what put them on the map. But what scares me the most about this is that it would change every one of these waves to now be one full wave, meaning we have already seen the peak. And all this run would be is an extreme headfake and we all burn in hell as it lowers and lowers and lowers in price. Now, I don't think I favor this outcome, but it is still VERY possible.
What defers me from this is the total accumulation faze that it had after its first initial peak, It was far too long and retraced a great amount of its initial gain. And for Waves 3 and 5 to be so quick and extended it kind of throws me off. But this market is a fast one, and we have to be ready for anything. Now, what supports this, is the scenario that Bitcoin is also giving a headfake, and is headed to hell as well. Bitcoin has broken all types of resistances and has an incredible amount of bullishness behind it. Bitcoin is due, but I don't see that happening just yet. I will probably upload my projection of Bitcoin. But hell, with Bitcoin, 90% of analyst get it wrong. I want to play this one out and see where it goes. But these are two very critical out comes and the possibility of this re-entering a fib level of .618 downward of $.35 is not a 0% chance. It's just something to be aware, and should make you very cautious right now.
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I also just noticed that on the first picture I have 5 waves above the subwaves listed in parentheses. Do not pat attention to that as that was a mistake. it was suppose to be deleted.บันทึก
Very important moment right now. NXT will either need to hit another wave 5 along with Bitcoin and breach the $0.75 area or hold its .328 retrace if Bitcoin retraces from this major wave (unlikely) or my skepticism of this coin will increase. Also sorry for the grammar mistakes, English is not my first language. My first language is Ebonics. I freaking spelled the word "phase" as "faze." I think being a D1-Football playing - Finance 'majoring' - Crypto currency trader is getting to me.บันทึก
Doesn't look too good for Bitcoin in the short term (next day). BTC hit my stop loss and NXT has been showing to act very funky in this correction period. I have the feeling it may drop before It has the chance of breaking resistance. I'm out of the trade and I will re-enter when my faith in cryptomanity is restored (so in a couple of hours), or at-least until resistance is broken. I'm being very cautious about this play.บันทึก
Think I will be re-entering this trade soon. Check out my update on Bitcoin and I think this should follow suit.บันทึก
We are forming an ascending wedge, a HUGE Buy wall at 3800. Looks like it will be outpaced by Bitcoin. Not quite sure whats going on, but we should see a short-term drop in price. (accidentally commented this)บันทึก
Mind has completely shifted to Ardor (Partner of NXT). It stole the show. I just caught its most recent wave after I noticed that biggg accumulation phase. I think its poised for 2 more waves upward, it's consolidating at the .618 levels with low volume so it gives me a lot of hope. Still a risky trade but check it out if you are interested.บันทึก
Nevermind on that Note...บันทึก
Broke Resistance.บันทึก
As this unravels, scenario 1 is looking like what what we're getting here. The previous run up from $0.41 was still a part of the correction. I'll update with another picture of what happened.
I think we finished wave 1 and are on course for wave 3 after this correction stopped at the .618 level. New targets:
Target 1 range:
$0.86 - $0.92
Target 2 Range:
$0.98 - $1.05
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Love using NXT as my secondary indicator to BTC.
Both just finished Wave 2 correction and are headed onto wave 3.
Dear lord baby jesus don't play games with me now.
Target 1 ($0.86+) Here we come!
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First time i've ever seen LTC affect the market hahaha. Hopefully you guys bought in on that dip! :Dบันทึก
Not quite sure what is going on here. Looks like it is following a post wave 5 correction.บันทึก
Guys!! WE HIT OUR TARGET 1 RANGE OF $0.86 EXACTLY. Just the tip though! The good news?? I think my original wave analysis 3 pictures up was correct and we should be hitting $1.05 soon! I will update with a picture of what is going on! Congrats if you got in for target 1! It was very annoying because it took FOREVER to correct.บันทึก
Update #7875
Alright, So this target is similar to the first one. But I have to say, we have seen some ODD things from this coin as far as waves and corrections go. So all that I am going to say is that because of this odd activity, I think we are just going to get 2 subwaves in this wave 3. And I will update A new target after this target is hit, If the correction is in favor of this being a wave 3, INSTEAD of just a 2-part subwave.
Keep in mind, I am coming from the idea that we are still on a PRIMARY wave 3, and not a new wave 1 or 5 or whatever. You'll see wave 1 to the left in the white, that is what I am referring to. So because I don't want to assume an extended 3rd wave, I'm just going with 2 subwaves UNTIL we are proven otherwise.
SO, that being said, our target 2 is similar to the first overall projection, It's just going to take a different path:
Target Range:
$1.045 - $1.11
Precise Target:
$1.079
New Entry:
$0.74 - $0.80
Stop Loss:
$0.685
RR: 3.36
(From Middle of Entry to Precise Target)
Chance to Gain:
39.19%
Chance to Lose:
11.67%
Probability: High. I mean Snoop Dogg High.
Kryptonite: Bitcoin
Everything can literally go perfect and Bitcoin can trash it.
Good Luck
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GREAT Wave 3! Guys we are PERFECTLY on target, If you look on the chart, that wave 3 was sitting right at $0.98. Guess what we just hit?? 98 Cents. I am starting to get concerned for my well being, because I'm doing this too much...LEMME HEAR A 'CASH MONEY'. I sold at that peak right there and I am READY for our wave 5! $1.07 Here we come!
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HOLY CRAP THAT WASNT THE PEAK. Are we gonna get an extended 3rd??? Guys this thing is gonna crush through our target Box!ปิดการเทรด: ถึงเป้าหมายการทำกำไร
GUYS I'm such a dumbass.. That WAS wave 5!! HAHAHA. Yo I just missed out on an extra 13% because I miscounted and wasn't freaking patient. But c'mon.. Who would have guess that extended 5th? But GUYS, AGAIN, WE HIT OUR THE VERY TOP OF OUR TARGET BOX AT $1.11!! I'm JUICED. GIMME A "HELLL YURRR". I swear this is like doing drugs... But HERE is the best part. WE AREN'T DONE.You guys thought that Risk to Reward ratio was nice?? Wait until you see this one!
RR: 5.84
Chance to Gain: 74.29% (Yes, really)
Chance to Lose: 12.72%
Entry Level: $0.88 - $0.945
Stop Loss: $0.775
Target 1: $1.36
Target 2: $1.49 - $1.58
Precise Target: $1.54
Timeframe: Possibly 1 week
Probability: Completely contingent on how Bitcoin does... I have Bitcoin on a limited time frame (Check out my latest Bitcoin post, been pretty accurate so far), I just don't know how long it will take NXT to correct. So that being said, I am NOT buying into the correction (entry level) until I see a break upwards for our next wave.
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คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน