POLONIEX: NAV/BTC

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Note: I am not a financial advisor so beware. I am not a professional trader either but learned trading analysis around one year ago. I made a lot of mistakes but I gained experience also.

The chart patterns are not 100% accurate at this time because of Automated Maintenance and disabled wallet. The green and red lines indicates the possible scenarios that can play out. In my opinion, it's more likely that the price trend will follow the first curved green line (ends at 14k satoshi) because of resistance around 9.5k - 10.5k satoshi. In case of too much resistance around 14k satoshi level then the price may drop. Before it takes off the price will drop slightly to the middle line (Brown) or to the bottom border of Bollinger Bands. In a scenario where the price drops, it will probably go to 7.5k - 8.5k satoshi level. This can be caused be numerous factors correlated to cryptocurrency market. The price level will probably stay around a stable level for a couple of hours before it starts to swing. The 1 day chart shows positive signs of resistance also.
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Beyond Technical AnalysisChart PatternsCryptocurrencyTrend Analysis

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