NuCypher bottomed, but will it go up?
Updated
NuCypher is testing .58 and possibly for the last time before reversal. This is a lower risk, (assuming you are using a tight stop) but high reward situation. Nu has taken a dip due to BTC recent breakout upwards. Pushing down price on the NU/BTC trading pair. This could present a buy opportunity.
RSI and MACD are both in uptrend and hovering just below reversal levels (rsi 50).
volume is very low, which I interpret as "price is to low to short now" and "Is this the time to buy?".
next price action could depend on BTC price action. BTC will need to retest support around 62000 at some point. I expect NU/BTC to increase a lot at this point.
my evaluation is that NU price will see big increase soon, although there is potential to see a drop to .56 level. I don't expect this as volume is very low and it would require an "adverse event" to push down to such levels..
but use a stop to protect yourself if you are worried about a drop.
RSI and MACD are both in uptrend and hovering just below reversal levels (rsi 50).
volume is very low, which I interpret as "price is to low to short now" and "Is this the time to buy?".
next price action could depend on BTC price action. BTC will need to retest support around 62000 at some point. I expect NU/BTC to increase a lot at this point.
my evaluation is that NU price will see big increase soon, although there is potential to see a drop to .56 level. I don't expect this as volume is very low and it would require an "adverse event" to push down to such levels..
but use a stop to protect yourself if you are worried about a drop.
Note
Nu is being pushed down to previous support at .55. Look for bounce or possible continued drop if breaks below.
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