NXT Strength Against the Bitcoin

Following the previous idea on NXT/BTC, price went down to 361.8% Fibonacci at 1480 shatoshis, that has been rejected cleanly. The previous prediction was quite precise, and after rejecting the support NXT/BTC broke above the downtrend trendline suggesting the the trend might be about to reverse.

At this point NXT is facing several resistance levels that it has to overcome in order to start a longer term uptrend. Fist strong resistance is 2000 satoshis area, break and close above it should push price further up to a 50% Fibs at 2600 satoshis.

On the other hand, price could still continue to consolidate between 2k and 1.5k satoshis and potentially produce spike below the current support before moving higher. All-in-all the short term upside potential is there and the reaction to the 2k satoshis resistance should show the strength of the NXT against the Bitcoin.

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