I have been long on NXT since I found out the IGNIS airdrop was coming so I have made a bit and sold half. I still am holding NXT as I believe up until the airdrop on 28DEC2017 it will continue to increase. However the top level of the FIB sequence has been reached and I am unsure if there is enough support to push though this resistance level at the top. As you can see BTC took a dive but with a bounce already in action I don't expect NXT to jump out of this top FIB level. If we have strong support from the airdrop there is no reason why this coin shouldn't jump up (green arrow) after the airdrop correction, otherwise it will follow the FIB angle (yellow arrow) on the same trajectory upwards. Interesting few days ahead. In my own opinion I was always going to sell out before the airdrop, but depending on how much the dip/correction might actually be I might just HODL into the first week of 2018. As I said I have made enough on this coin already to make up for the risk and I do believe it to be a strong short. We will find out after the airdrop how many holders will be in for the tech or just the profits. Happy trading.
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So it seems my FIB levels were a little off, the image/link above shows that, but as the original idea suggest hit the roof and follows that same pink arrow on the retrace, as isn't showing to be a violent drop shows there is a decent amount of support - put this down to IGNIS holders. I sold some coins at the top at the time I posted the original idea, and will most likely look to re-enter on the upwards confirmations.
Bình luận
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FIB correction, same targets.
Bình luận
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NXT following the downtrend as predicted, still sitting above the support levels. Will be interesting to see how many dump coin before the IGNIS airdrop on 28DEC2017. If it does break the FIB support level be ready to buy around that 51 sats area if you will be holding onto the coin for the airdrop. If not, wait for the dump straight after the airdrop, this coin has momentum medium to long term. Make sure you are in an authorised exchange to receive your IGNIS!
Đóng lệnh: dừng lỗ
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Now since the Airdrop didn't quite bring with it the support I was hoping for in a coin like this, hopefully my FIB levels triggered some stop losses for you saving a bulk load of cash. In saying so, NXTBTC is now in the original position they were before the Airdrop, before the FOMO and the hype so if you have any prospect for this coin and I would indeed keep a close eye on their calendar as you can see with SALT coin that as soon as they release a platform some big gains can be made. With all this in mind I will expect an overall increase in coin price in the coming weeks HOWEVER do expect to see a fair amount of sideways movement following the same FIB levels as before. I do not know what the IGNIS coin will bring NXT once it is distributed so trade carefully until then. I know I made my fair share of profit on this coin and am LONG on this coin for the time being (I was too busy to sell out after airdrop lol) so for now this position is closed. If any major improvements on position present themselves then I will open a new prediction. Thanks to everyone that followed and commented, like I said I hope you followed the FIB levels on the downtrend. Happy coining!
I looked into a potential "dead" coin scenario. What I found is that for every ICO using the NXT blockchain, NXT holders get 10% of the shares. I believe this ends the "Dead" coin theory. Having said that. It's really all about "Market Cap". If you look at NXT's customers, it is a list of the best Companies in Silicon Valley. So, I am of the belief that the market cap is still extremely low compared to many in the Crypto space.
Flipwedge
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@Flipwedge, Look at market cap of EOS which is only an "idea" at this point 6b. Cardano same 12b. Neo 4b. Iota 12b. My guess is 5B is coming very soon for NXT putting it at $4.50. Probably in the next few days.
Revail
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@Flipwedge, so without taking the MC into account this trend analysis is completely undervalued?
We have all seen what EOS has achieved over the last few months.
Flipwedge
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@Revail, Good point. It does need to "rest" that is true. But the chart pattern doesn't have a value, rather the utility of the platform holds the value. What you are describing is investor appetite. As we have seen, appetite in crypto is bubblicious. This does need to rest. But, but my idea is that it will continue, like you mentioned. I just don't think it is fair that the headline says "SHORT"! It's just my opinion. thank you for listening. I am eager to learn new and interesting ideas. Please share more.
Revail
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@Flipwedge, I completely agree, I am only speculating on the dip that may occur both before and/or after the airdrop. I have come to learn that this coin actually holds a fair of value within the crypto space and as such is surely undervalued as the MC suggests; a LONG buy up on the next correction/selloff I would surely recommend.
Thanks for your comments!
Flipwedge
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@Revail, I am going to take your advice. I will place orders to scale back in at various lower levels.
Shadouek
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4-5$ incoming 28.12
Flipwedge
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@Shadouek, Read today that in addition to the Ignis airdrop, Ignis owners are getting a 10% airdrop in Bitswift. Even those getting the Ignis airdrop qualify. It's not much, but shows the power of the platform setup.
Revail
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@Flipwedge, Just remember only the following exchanges are being supported (Plus NXT Local Wallet):
Bittrex
AEX
HitBTC
Bitcoin Indonesia
Freewallet
Upbit
Stocks.Exchange
Flipwedge
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@Revail, I am only on Bittrex. However, and let me know what you think, I am going to move it to the NXT Light Client wallet near the block 1636363 but plenty of time for the transfer.
do you know how long I have to leave it in the wallet? can I move if when the next block 1636364 is completed?