So as expected NXT dropped hard to exactly the target we defined!. I posted the analysis on the 25th, so hopefully some of you got the chance to get out before the huge drop. I also explained why IGNIS isn't worth taking the risk.
You can see the previous analysis post in here:
So now whats next? Well the RSI (Relative strength index) is showing that NXT is over sold, also the MACD is bullish. That said I'm expecting a small rebound in the coming few hours. I will need some more time to look at how the coin behaves with such volume after the majority sold out before being able to provide targets. I will keep updating this post regularly from this moment, so if you are in NXT or a NXT fan/holder stayed tuned.
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Small mistake, the origianl NXT idea was posted the 24th not the 25th
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5 min candle chart:
Rsi is near overbought MACD isn't looking so good
1 hour candle:
RSI is near oversold MACD is looking good
Meaning don't expect the coin to fly in few mins. within an hour + I can see the coin moving up.
Ok now that some time have passed, we kindoff have an idea of the trend: Its in a falling wedge which usually tends to break upwards, if it does, a first target is indicated.
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Broke up from the falling wedge.
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Ok so in 1 hour candle, NXT is bearish still. If this changes anytime I will update the post. Its hard to make possibilities in a 1 min candle chart.
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Sorry guys I forgot to update you on this. The last update I mentioned that NXT is bearish, and it still is.
One asked me if he should buy a lot of NXT because its so cheap now, so I replied back to him with no, NXT might go to the low mid 3k sat range, and indeed I'm seeing a movement in this direction.
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Rising Megaphone. I believe we are heading to 4.2k sat, maybe more.
SELL LOSS!! as usual, watch out from BTC and have a sell loss.
glad i found your prediction here.