NAV Bullish Patterns

NAVcoin is currently trading within both a bullish pennant AND falling wedge pattern.

YELLOW figure = bullish pennant
RED figure = falling wedge

I am watching for these patterns to break upward which will cause a large spike in price. Also, if it does break out - there is plenty of room to move on both the RSI indicator. The MACD lines are currently signalling a bull trend too.

I have entered into a position at 12500 satoshis and am looking to scale out my position at 17k and 20k satoshis.

I can see 3 bullish scenarios play out after pattern breaks upward.

Scenario 1: NAV goes straight to 20k
Scenario 2: NAV tests 17.5k resistance, rests at 15/16k, shoots to 20k
Scenario 3: NAV pulls back to the bottom of the patterns one last time, then shoots up directly to 20k

Stay tuned for an update when I see the patterns break!

TLDR; I am very bullish on NAV.

I am relatively new at trading. I have been watching the market since the beginning of this year and started learning Technical Analysis about 3 months ago. Please feel free to give me any feedback or criticism! I appreciate any and all comments :D

Commentaire:

Currently, price is testing the support of the BULLISH PENNANT.

Just bought more at 10.5k

Could potentially have more downside & test falling wedge support.

Commentaire:

I don't know if anyone is still following this; however, it has just bounced off the red line of support. NAV is looking decent.