Neblio (NEBL) is a really strong project, you can tell by looking at the chart.
While most of the altcoins on Binance hit a low point on the 12th September, the low for NEBL was hit on August and it has been in an uptrend since, it picked up steam just now and additional bullish action is expected, long term, according to the charts.
Let’s take a look and plan a trade for this altcoin based on what we see:
Since we already hit EMA50 (magenta line), NEBL will have to retrace and consolidate before it can challenge it again. Eventually, as it happens in an uptrend, it will break it. If this resistance can’t be broken, then the next support is tested.
We trade based on the trend and protect ourselves with a stop loss where NEBL on the way down found support. If this support is broken we close our trade, because we assume that it will continue going down. But if the chart signals continue to develop and the trade goes our way, we will challenge target after target and profit all the way.
With our pockets full, we are honestly grateful, we feel it (Thank you God for allowing me these blessings… ) and move on to another trade.
This is a type of job, so you are always happy when you get paid. Namaste.
Let’s continue with the analysis…
Volume is massive, you can see how big is the last volume bar (red/green bars on the background of the main chart behind the candles). This is the highest volume since January 2018.
A strong bounced happened after Neblio hit an all time low, with all the indicators now bullish, it is time for a strong wave up.
Trade instructions for Neblio vs Bitcoin
Buy in: 0.000335 – 0.000363 (Wait for price to retrace – go down to this level – to buy in)
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