NLG decision day upon us! 600 SAT or 40 SAT?
Updated
Hello dear followers,
First of all I would like to say that Gulden is a great project from the Netherlands, it has a real use case, you can pay with them at numerous online shops and at the markets. The development team is very active and they are constantly looking for ways to make the chain stronger and the coin more user-friendly. However, this positive development cannot be said about the price unfortunately.
I have made a TA on the NLGBTC chart.
I see the possibility for two scenario’s, and I must say the no-one can tell which one will play out until we break the wedge pattern to one side.
The bearisch scenario: Gulden is trading in an descending triangle, which has broken to the downside and has an extrapolated target of 40 Sats. Is has tested the 400 Sats with a wick and is has now become resistance clearly.
The bullisch scenario: Gulden is trading in a Falling Wedge pattern, like many altcoins do at the moment. This is a bullish pattern, but means nothing until we break it to the upside. When we do so, it has a target of 600 Sats. Also the ADX and DI had a bullish cross, but the lines are already coming closer to each other and the momentum is also decreasing.
So this is an exciting time, which scenario will play out?
You can also take a look at my BTC idea and possibly leave a like.
Trade safe!
First of all I would like to say that Gulden is a great project from the Netherlands, it has a real use case, you can pay with them at numerous online shops and at the markets. The development team is very active and they are constantly looking for ways to make the chain stronger and the coin more user-friendly. However, this positive development cannot be said about the price unfortunately.
I have made a TA on the NLGBTC chart.
I see the possibility for two scenario’s, and I must say the no-one can tell which one will play out until we break the wedge pattern to one side.
The bearisch scenario: Gulden is trading in an descending triangle, which has broken to the downside and has an extrapolated target of 40 Sats. Is has tested the 400 Sats with a wick and is has now become resistance clearly.
The bullisch scenario: Gulden is trading in a Falling Wedge pattern, like many altcoins do at the moment. This is a bullish pattern, but means nothing until we break it to the upside. When we do so, it has a target of 600 Sats. Also the ADX and DI had a bullish cross, but the lines are already coming closer to each other and the momentum is also decreasing.
So this is an exciting time, which scenario will play out?
You can also take a look at my BTC idea and possibly leave a like.
Trade safe!
Note
Just saw the target is -400 sats, that’s impossible of course. The question would be ‘is it going to zero, or shows some strength’. NLG is still trading in the wedge, I will update when this breaks.Note
Just broke out of the wedge, now see if we can continue the bullisch green scenario
Related publications
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.