NXT Possible reversal pattern formation rounded bottom + 480%The coin is traded on top exchanges such as Polonix, Bitrex, HitBtc.
The coin was pumped several times from + 700%, +1600% + 1700%! This makes it clear why this coin was created and what work is preferable on it. Overly risky coin, but overly profitable. Coin only for temporary speculation, not for holding!
The global coin chart is shown in this trading idea:
NXT Super Profit or Death.
What do we see on the chart? There was a downward wedge , after exiting from it, the price did not particularly make any price movements towards working out the goals of the wedge . Now there is a sideways movement, volatility is reduced.
Lateral movement after leaving the wedge for 96 days (3 months). Perhaps this lateral movement of 3 months in length will act as the 2nd phase of a reversal of a very slowly forming figure "Round bottom" ("Saucer"). The descending wedge itself will act as the first phase of this formation. The target are impressive, if in reality this formation will be formed, then only up to the figure resistance + 480%.
Entrance to the market - only at the beginning of the 3rd phase of the formation of the figure! It is very important. Because it is not clear whether it will really form. A relatively slow price increase will mean the beginning of this 3 phase formation of the figure "round bottom".
Enter the market now "at the bottom", maybe get a "second bottom" as a gift. It is better to buy a little more expensive, but for sure, than cheap for good luck!
If the price breaks through the support of the formation and consolidates below it, this will mean that there will be no trend reversal to the upward one at a given time, and you should refrain from buying.
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Here is another NXT developer coin - ANDOR coin (Andr) . In my opinion, the ANDOR coin is less risky and more understandable in price movements. You also need to understand that this is a newer project of these developers, therefore they will add more time and effort to the development of the project, which will be well displayed on the price chart.
Here is one of the latest trading ideas for the ANDOR coin which has already yielded about + 20%.
Ardor channel movement in increments of 40%. Pivot points
Let me remind you that NXT and ANDOR (Ardr) were created by the same people.
NXT is the first project.
ARDOR (Ardr) - the second project.
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The stages of the formation of the figure are “Cup” (Saucer, round bottom).
The Saucer figure consists of the following steps:
1) The descent of the price is the first phase of the figure. Price decline trend with a gradual slowdown. In the classical case, it should be a smooth arc, but in practice its shape can be flat or contain, on the contrary, correction minima and maxima. The main condition in this case is the gradually decelerating pace of price reduction.
2) The bottom is the lowest point of prices . It is the geometric center of the figure. It should be located on a gentle bottom (smooth bottom, without peaks). Although sometimes such a formation as the "Thorn" down or closed squeezes comes across at the bottom. The main thing is that these local formations do not violate the overall picture of the figure and movement in the global. If the lower point of the price forms the so-called platform on the chart, then the trading volumes gradually decrease, and at the moment of the price jump up sharply increase. Another surge in prices may be a signal to buy if the maximum of current prices is higher than the previous maximum.
3) Ascent of the price - after the minimum follows the ascent, which should ideally be symmetrical to the descent, and should last as long as the first phase (the descent of the price). There is a tendency to increase prices with a gradual acceleration.
4) The intersection of the resistance formed by the upper boundary of the whole figure (passes through the maximum point of the figure at the beginning of the period of its formation) is an additional confirmation of the rounded bottom and the final phase of the formation of the figure. After breaking through and fixing the price, the resistance level turns into a support level. When crossing the resistance, the volume rises as a rule.
