NXT bottomed recently.
XMR 1 year ago.
XMR will struggle to break 350k
NXT will go at least 5000k
The RS chart says NXT bottomed too.
Why should XMR go nuts? Because GUI?
NXT has an ICO going on and various big agreements will begin to come in light.
Recent peak in NXT is not just to get compared with XMRs peak (it was a spread double top too, so it is relatively safe to say that we know the XMR top, as we know that the NXT top is between 10k-15k). Try with NXT at 16k satoshi....
So let me put it right:
15k * 1bn = 15 trillion satoshi market cap for NXT
400k * 12m = 4.8 trillion satoshi (and I should have put less than 12m)
Go figure...
Why are you bringing fundamentals into this? Weren't we talking purely TA?
RS chart shows triple bottom break with chances of catapult. I'd rather wait it out than buying NXT with my XMR.
Everything else you've written is purely speculation that has no basis in TA. Sure, support and resistance levels are there, and doing their job, just until they're not, so I'd rather not make clean cut statements about tops and bottoms, because you never know.
Good luck trading, as long as we're making more bitcorns, 'tsall good.
edit: @macsga: I did bring another TA method into play, one which helps determine supply and demand probably much better than price does. XMR market sucked in millions of coins from the huge emission from the last years which speaks demand (grass-roots, manipulated, I don't know/care/can't gauge, but someone was there to buy those coins), NXT shows a 4 times smaller market cap in the same period which shouts "nobody wants this coin (for now)".
Pretty simple if you think about it: demand => higher prices, lack of demand => uncertainty.
edit2: how about a RS chart based on marketcap and not price? Would that be possible?
haha
