Nucypher Poised for Breakout! All Time Highs Coming?

10 feb 2021

After gaining over 100% in value over just 24 hours last week, Nucypher seems poised for another breakout. Since the break out last week NUUSD has found strong trend line support has it has developed into a bullish ascending triangle pattern. With clear hourly supply levels above it and strong trend support below a nice low risk high reward trade has set it self up.

Entry - Between the dotted and solid green trend line

Stop - You can run a trailing stop behind the trend line, although it has not been violated yet the tighter it is the more likely you can be taken out if NUUSD back tests before breaking out.

Important Levels

• .57 - This is the strongest hourly resistance on the chart. A strong move with volume past this level would start the breakout and a back test of this level would signify the breakout is valid.
  
• .62 - Hourly resistance from the precipitous drop from all time highs. NUUSD lost 20% in 2 hours on Feb 5th from this level
  
• .655 - Hourly resistance. I expect to see this level and .62 to provide some consolidation
  
• .69 - All Time Highs
  
  Targets
  
  I would scale out some profit at each of the levels above and level a decent sized runner on if it does break all time highs.
  
  Breakout Failure:
  
  An hourly open and close below the green trend line would signify the failure of the ascending triangle to produce a breakout.