Today’s Analysis – NANOBTC – consolidating within its daily support zone as holds above the 200 EMA
Points to consider:
- 200 EMA S/R flip
- Macro trend reversal
- 55 EMA visual guide
- Increasing volume
- Oscillators neutral
Nanos recent strong price action forming a successful S/R flip re-test of the 200 EMA on the daily timeframe indicates early signs of a macro trend reversal, giving the market a bullish bias.
Thereafter, Nano establishing a higher high and higher low on the chart further supporting the bullish bias.
Further price development will allow the 55 EMA to act as a visual guide assisting in trade management.
Historically, an inflow of volume has coincided with bullish price action as it breaches key levels; indicating a true break of the level and adding validity to the price action. Volume follow-through is needed currently for a true trend continuation, avoiding any false breaks.
Oscillators are neutral, further price development will allow for directional bias.
Overall, in my opinion, NANO is currently trading in the buy zone for a long trade to structural resistance as the immediate target with risk defined below the 200 EMA.
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
Points to consider:
- 200 EMA S/R flip
- Macro trend reversal
- 55 EMA visual guide
- Increasing volume
- Oscillators neutral
Nanos recent strong price action forming a successful S/R flip re-test of the 200 EMA on the daily timeframe indicates early signs of a macro trend reversal, giving the market a bullish bias.
Thereafter, Nano establishing a higher high and higher low on the chart further supporting the bullish bias.
Further price development will allow the 55 EMA to act as a visual guide assisting in trade management.
Historically, an inflow of volume has coincided with bullish price action as it breaches key levels; indicating a true break of the level and adding validity to the price action. Volume follow-through is needed currently for a true trend continuation, avoiding any false breaks.
Oscillators are neutral, further price development will allow for directional bias.
Overall, in my opinion, NANO is currently trading in the buy zone for a long trade to structural resistance as the immediate target with risk defined below the 200 EMA.
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!