NXT Update: On the Rise

NXTBTC has found support is preparing for another breakout. After the initial breakout/reversal was made after the post-IGNIS airdrop dump and stopped by the 100MA on the Hourly, NXT has squeezed its way back to the 100MA forming a wedge/triangle in the process. If you are not currently in next, this is a great early entry for a breakout trade. The whole market is beginning the year off on a rally and NXT is going to want to catch up after falling behind the rest of the alts. From where I'm standing, this looks like the completion of a 2nd Elliot Wave which mean the next leg up is going to be a big one.

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Commento:

Breakout Denied by BTC rally. Bounce here is likely but BTC is out for some Alt blood so be careful here.

Commento:

This could be a possible bottom on NXT. This is where the dump post IGNIS ended and now this is where price is resting after failure to breakout. MA congestion suggests that a strong move in inbound but the direction is still unclear considering BTC current rally.

Commento:

That Bounce Tho...
Testing previous support (now resistance)
Long way up if it can make it through