NBSBTC about to move upward potentially by 850%?
Updated
NBSBTC seems to be in the starting position as pointed out by many others in the past days. I agree and would like to add some details from my point of view:
1) The 4h chart has a high resemblence of the TFUELBTC 1D chart, as already pointed out by RamzArz_land in his idea. I think this is one very good point. TFUEL pumped hard from its starting point (10x).
2) On the 4h the EMAs look pretty good, the 1D chart supports this (EMA 50 crossed EMA 100). The EMA200 is not yet available on the daily, however, the EMAs above 100 look also pretty good and have been crossed by the EMA50, indicating a strong move upwards in my opinion.
3) Volume is also in favor for an upward movement. A lot of buying the last couple days while NBSBTC was mainly in the 50-60 sats range indicates a strong accumulation in my opinion.
4) It looks to me as NBSBTC has successfully bounced of the lower boundary of an upward channel with a huge potential to the upside. This is also similar to TFUELBTC. I guess we will move a lot higher from here in the short term. Once the middle of that channel is crossed, NBSBTC should aim for the upper boundary. With this move, NBSBTC will cross an important dynamic resistance of the huge falling wedge: This should trigger an even higher push to the upside, potentially ~850% in the midterm.
5) Regarding the Fibs, NBSBTC is at the low end of the retracement and seems to have finished it with the EMAs pointing upwards. It has not even yet crossed the 0.236 at 79 sats.
I see following targets:
TP1: 73 (has already been pierced yesterday)
TP2: 110
TP3: 138
TP4: 200
TP5: 246 (if this is crossed with respective volume, the next target points seem quite feasible)
TP6: 382
TP7: 601
As always, this is just an idea and I am looking forward to any comments, in order to learn. And it highly depends on BTC and the BTC dominance. But for now, the outlook seems quite good to me.
1) The 4h chart has a high resemblence of the TFUELBTC 1D chart, as already pointed out by RamzArz_land in his idea. I think this is one very good point. TFUEL pumped hard from its starting point (10x).
2) On the 4h the EMAs look pretty good, the 1D chart supports this (EMA 50 crossed EMA 100). The EMA200 is not yet available on the daily, however, the EMAs above 100 look also pretty good and have been crossed by the EMA50, indicating a strong move upwards in my opinion.
3) Volume is also in favor for an upward movement. A lot of buying the last couple days while NBSBTC was mainly in the 50-60 sats range indicates a strong accumulation in my opinion.
4) It looks to me as NBSBTC has successfully bounced of the lower boundary of an upward channel with a huge potential to the upside. This is also similar to TFUELBTC. I guess we will move a lot higher from here in the short term. Once the middle of that channel is crossed, NBSBTC should aim for the upper boundary. With this move, NBSBTC will cross an important dynamic resistance of the huge falling wedge: This should trigger an even higher push to the upside, potentially ~850% in the midterm.
5) Regarding the Fibs, NBSBTC is at the low end of the retracement and seems to have finished it with the EMAs pointing upwards. It has not even yet crossed the 0.236 at 79 sats.
I see following targets:
TP1: 73 (has already been pierced yesterday)
TP2: 110
TP3: 138
TP4: 200
TP5: 246 (if this is crossed with respective volume, the next target points seem quite feasible)
TP6: 382
TP7: 601
As always, this is just an idea and I am looking forward to any comments, in order to learn. And it highly depends on BTC and the BTC dominance. But for now, the outlook seems quite good to me.
Note
Some nice moves of NBSBTC so far and I think the next major leap is right infront: On the 4h I see a confirmed bullflag with the last 4h candle breaking to the upside. I think we will see a move to TP2 (110 sats) with the next candles. Also: NBSBTC bounced of nicely from the middle of the upward channel it is currently in.Note
A lot of altcoins have taken a beating, this one included. So far NBS seems to try to recover from that beating. But for me it's not quite sure if it will recover.The upward channel has been left to the downside, so my initial idea is definitely no longer valid.
Yesterday, NBS bounced of the MA200 on the daily with a big green candle, which is good. Today it tried to break through 72/73 sats, which failed and that is bad. However, it bounced of the MA50, which is good again. There was a lot of volume and selling pressure today, but it remained above the MA50, which is good. If it can remain above the MA50 in the next days, I think we will see upward movement again. A close above 73 stats seems to an extra plus.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.