NOTUSD - Update
Quick update on NOT - not had a breakdown from a smaller wedge pattern on the 7th June, on BTC's corrective move. This wedge is shown in red on the chart.
Since then on the 4h chart NOT has formed a larger bullish wedge structure. It has also held the 100 MA, and at present appears to have broken the wedge to the upside.
NOT looks bullish at present in spite of recent corrective move, however most alts depend on BTC's next move for bullish confirmation.
Remember patterns are only a matter of probabilities - any pattern can fail so always best to wait for breakout confirmation and retest.
Since then on the 4h chart NOT has formed a larger bullish wedge structure. It has also held the 100 MA, and at present appears to have broken the wedge to the upside.
NOT looks bullish at present in spite of recent corrective move, however most alts depend on BTC's next move for bullish confirmation.
Remember patterns are only a matter of probabilities - any pattern can fail so always best to wait for breakout confirmation and retest.
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