Parallel Ascending Channel on NWC Creates Great Long Opportunity

13 окт. 2020 г.Hi everyone,

In this analysis I want to keep focusing on NWC, one of the smaller market cap coins that I discovered recently that has a lot of upwards potential.

After a very successful previous idea of looking at the confirmation of the bullish retest we see that the technicals can give us a good indication of how to trade NWC Newscrypto.

Right now the price is trending upwards inside a parallel ascending channel. Whenever you trade channels it's important to find a place with maximum risk reward. For this, we can use the age old buy low sell high principle.

The best place to enter a trade is when the price bounces off the lower support line. We see that the price is EXACTLY at the lower support at the moment, giving us a great opportunity to buy low.

The sell can be defined by many different indicators. You can choose to enter a scalp trade and hold it for a few hours towards the upper resistance, or you can choose to use it a great entry for dollar cost averaging into this asset to hold for the longer term and aim for profits of 50% and higher.

Combining with the fundamental analysis we see that today new functionality was added where users are now able to leverage apply pay to buy NWC tokens. This will bring greater accessibility to this coin to a large audience of all 1 billion apple pay users. Since NWC was only available on KuCoin (and HitBTC but I suggest to buy it on KuCoin) this could lead to a large influx of new users and therefore an increase in price.

I suggest a long position here on NWC. Good luck!

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!