NEWSCRYPTO broke above the September trend-line!

2020年10月18日

NWCUSDT made strong bullish developments these past few days both technically and fundamentally. All dynamics show that a strong break-out is being priced in while more buyers join the market making Higher Lows for the first time this month.


** Technical analysis **
Perhaps the most important development is that the price broke above the Higher High trend-line of the (marked in blue) Channel Down that was holding Lower Highs since September 01. Some attention is needed as a Triangle is emerging and last time that wasn't enough for a bullish break-out but NWC was stil under the Lower Highs trend-line then.

I have used the Fibonacci Channel to more accurately display a projection of the next few days and since the price broke above the blue Channel, it is natural to see the higher Fibonacci extensions. Hence I've drawn a new (green) Channel for better illustration purposes. As you see currently the price is trading within the 1.000 - 1.382 zone. In my opinion the important level to break is 1.382 as during the Blue Channel, it was the support (0.382). In any case, I believe it is very realistic to expect NewsCrypto to touch the 2.000 Fib within 0.25 - 0.26 in the next 2 weeks.


** Fundamental analysis **
Something big is being prepared here. Yesterday NWC announced that they will be partnering with a big industry name. Rumor has it, it's a new exchange! I assume more on this is to come soon, but traders have already reacted favorably to this and I see a lot of speculation going around. The right time to buy it cheap is now, when the name will be revealed it will be too late!


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