NXT Market Report 100414

May 10th 2014: 12:00 UTC –

Interim Report.

Cool Off Period (Hold your fire)


Current market depth (BTER):

Bids: 1.4 Million NXT
Asks: 0.5 Million NXT

Source: Bitcoinwisdom

Current market depth (Cryptsy):

Bids: 0.19 Million NXT
Asks: 0.035 Million NXT

Source: cryptocoincharts

Reach on BTER at the moment:

10,000 NXT = 6998 Satoshis
50,000 NXT = 7176
100,000 NXT = 7192
200,000 NXT = 7590 (4998)
500,000 NXT = Not available

This evening’s 500,000 cashout takes us to 6500.

Prognosis: We are in a cool-off period in the uptrend. This may last between a few hours to a couple of days during which indications suggest that we might settle in the 6000 to 7000 satoshi range for a rest. If profit taking by NxT speculators is excessive we may retest the 5000 resistance at the odd candle bottom. The 30 minute MACD (which for NXT currently has between a 6 and 12 hour cycle) just pushed slightly wider to the downside on an already divergent trend (to the downside) which suggests an incoming correction.

However, with NXT being a very slow and low liquidity market, it’s unlikely that the correction will have enough of a spread to present opportunities for accumulation to those other than the most experienced traders (That means more experienced than your current market commentator).

4 Hour Chart (Each candle is 4 hours wide)

Convergeance-divergeance moving average indicators agree that we may be not heading up as fast. At the worst case, a correction is suggested but like the high cirrus clouds warning of a distant warm front, it may be a few hours away:

The correction may be anywhere between a slowing of the uptrend to a temporary down trend (expected) before stabilising possible Sunday or Monday.

4hr MACD Histogram

lightspeed is an amateur trader –  the purpose of this commentary is to generate discourse with what I’ve learned so far about NXT and trading to other “beginners”  If your a “pro” just make sure you take your own advice and not mine !!

Donations to lightspeed / Nxt Market Report: Nxt acc. 13411915496268579987

Original post on nextcoin.org forum:
+ nxtforum.org: https://nxtforum.org/trading-exchanges/nxt-market-report/msg18097/