NWCUSDT Golden Cross on a Bottom fractal. +50% profit potential.
The NewsCrypto coin (NWCUSDT) just formed the first Golden Cross (when the MA50 crosses above the MA200) on the 4H time-frame since November 09 2021. Technically that is a very bullish pattern and the fact that it took almost 5 months to print it again, adds more weight to it.
It should be no coincidence that the very same pattern was seen on August 03 2021, when NWC formed the bottom of its previous correction phase. As the chart above shows, a Bullish Flag was formed (Channel Down) straight after the 4H Golden Cross and after a short consolidation, the price rallied just above the 1.5 Fibonacci extension level, with the 4H MA200 (orange trend-line) supporting all the way up.
Even the RSI sequences of the two bottom patterns are similar. The only difference is that NWC is right now on a Channel Up as opposed to the Channel Down of the early August Golden Cross. This can possibly mean that the upcoming rally may even be stronger. In any case the 1.5 Fibonacci extension is now at 0.3830, which from the current levels represents a +50% profit opportunity within a month's time, if everything continues to play out in a symmetrical way.
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It should be no coincidence that the very same pattern was seen on August 03 2021, when NWC formed the bottom of its previous correction phase. As the chart above shows, a Bullish Flag was formed (Channel Down) straight after the 4H Golden Cross and after a short consolidation, the price rallied just above the 1.5 Fibonacci extension level, with the 4H MA200 (orange trend-line) supporting all the way up.
Even the RSI sequences of the two bottom patterns are similar. The only difference is that NWC is right now on a Channel Up as opposed to the Channel Down of the early August Golden Cross. This can possibly mean that the upcoming rally may even be stronger. In any case the 1.5 Fibonacci extension is now at 0.3830, which from the current levels represents a +50% profit opportunity within a month's time, if everything continues to play out in a symmetrical way.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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