WILL $NOT RALLY SOON!?🔥 (NOT COIN PRICE PREDICTION 2024)
Summary
TLDRIn this Selenic Crypto update, the host discusses the recent market dip and NCoin's relative resilience. Despite the bearish sentiment growing among investors, the host expresses increased bullishness on NCoin, noting its formation of a V-shape recovery. Key resistance levels are identified at 1.9 and 2.0 cents, with a breakout above 2.1 cents being necessary for a technical bullish stance. However, the host anticipates continued market consolidation with a bearish bias, keeping an eye on open interest and potential breakouts for future updates.
Takeaways
- 📈 The speaker begins by addressing a recent market dip in NCoin but notes that it has held up relatively well compared to the overall market.
- 🐻 Despite a general market trend towards bearish sentiment, the speaker expresses an increasing bullish outlook on NCoin based on current observations.
- 📊 The speaker mentions a significant position closure and a lack of immediate recovery momentum, suggesting that a massive bull run is not expected in the short term.
- 📉 The script compares NCoin's performance to other cryptocurrencies, noting that while most are bottoming out, NCoin is forming a V-shape recovery pattern.
- 🔑 Key resistance levels for NCoin are identified as 1.9 cents and 2 cents, with the speaker highlighting the importance of breaking above 2.1 cents for a technical bullish signal.
- 📈 The speaker believes that a true bullish trend requires substantial open interest, which has not yet been achieved following the recent market movements.
- 🔮 There is a possibility of the market finding a better direction in the coming days, which could influence NCoin's performance.
- 🚫 The speaker does not anticipate a rally or significant breakout in the immediate future, expecting a period of consolidation instead.
- 📝 The speaker emphasizes that while fundamentally and technically bullish on NCoin, current market conditions and technicals suggest a more cautious outlook.
- 🔄 The script concludes with the speaker's commitment to provide updates, especially if there is a significant change in NCoin's market behavior or a potential breakout.
- 👋 The speaker signs off by thanking the audience and expressing well wishes.
Q & A
What is the main topic of the video?
-The main topic of the video is a daily update on the status of NCoin, a cryptocurrency, and the speaker's analysis of its recent market performance.
What happened to NCoin's price recently?
-NCoin experienced a price drop, which the speaker describes as a 'dump,' but it has held up relatively well compared to the overall market.
What does the speaker think about the current sentiment towards NCoin?
-The speaker notes that more people are becoming bearish on NCoin, but they personally are becoming more bullish.
What is the speaker's view on the immediate future of NCoin's price?
-The speaker does not expect a massive bull run immediately but believes NCoin is forming a nice V-shape recovery.
What key price levels did NCoin break above according to the speaker?
-NCoin broke above 1.9 cents and 2 cents, which are considered key levels by the speaker.
What price level would make the speaker technically bullish on NCoin?
-The speaker would become technically bullish if NCoin breaks above 2.1 cents.
What does the speaker believe is necessary for a significant bullish breakout in NCoin?
-A significant bullish breakout would require a lot more open interest and momentum than what is currently seen in the market.
What does the speaker predict for NCoin's market behavior in the short term?
-The speaker predicts that NCoin is more likely to continue laying low, consolidating, and possibly becoming a bit more bearish, depending on the overall market direction.
What does the speaker suggest about the possibility of an emergency update?
-The speaker suggests that if NCoin breaks above 2.1 cents with increased open interest, indicating a strong rally, they might make an emergency update.
What is the speaker's final advice for viewers regarding NCoin?
-The speaker advises viewers to stay updated and be prepared for potential changes, as they believe NCoin has a chance to breakout and rally quickly.
Outlines
📈 NCoin Market Update and Analysis
The speaker begins by greeting the audience and introducing the video's focus on the daily update of NCoin. They mention an unexpected market dip but note that NCoin has held up relatively well. The speaker expresses a growing bullish sentiment on NCoin despite the market's current bearish trend. They discuss the importance of open interest and momentum for a potential rally and highlight the need for a breakout above 2.1 cents to confirm a bullish trend. The speaker also notes the possibility of the market finding direction in the coming days, which could influence NCoin's performance.
Mindmap
Keywords
💡Selenic Crypto
💡NCoin
💡Dump
💡Market Wide
💡Bullish
💡Bearish
💡V Shape
💡Open Interest
💡Breakout
💡Consolidation
💡Bearish Bias
Highlights
Good morning greeting and introduction to the daily update on NCoin.
Acknowledgment of a recent market dump and its impact on NCoin.
NCoin's relative resilience compared to the overall market.
Personal stance on becoming more bullish on NCoin despite market conditions.
Explanation of the current market situation and its relation to NCoin's performance.
Analysis of the need for open interest and momentum for a potential rally.
Comparison of NCoin's recovery to other cryptocurrencies post-crash.
Observation of NCoin forming a V-shape recovery pattern.
Identification of key resistance levels at 1.9 cents and 2 cents for NCoin.
Technical analysis indicating a bullish breakout if NCoin surpasses 2.1 cents.
Discussion on the necessity of increased open interest for a sustained rally.
Speculation on potential market direction and its impact on NCoin's future.
Fundamental bullish outlook on NCoin despite current market conditions.
Expectation of continued consolidation for NCoin with a possible bearish bias.
Commitment to provide updates on NCoin's market movements and potential breakouts.
Acknowledgment of NCoin's history as a fast-moving cryptocurrency.
Closing remarks with thanks for watching and an invitation for further engagement.
Transcripts
good morning everybody welcome back to
selenic crypto hope you're all doing
great and welcome to this new video and
your daily update on on the NCoin
hopefully you still find these valuable
let me know if you do um but wanted to
do a full update because yesterday
obviously we had a little bit of a dump
um now it was quite unexpected I would
say Market wide but uh but so far I
think not card actually held up
relatively well um and I'll tell you why
and just in general we we'll do a full
we'll do a full update on Lin right now
and because and this is maybe a little
bit of a a bit of a weird thing but but
I see I see wow I see more and more
people getting bearish on NCoin and
personally I'm actually getting more and
more bullish on NCoin now I do think
that if you look at the situation right
now look I I don't expect a massive bull
run all of the sudden uh we had a
massive position closure right now right
uh right here yesterday evening and so
far we're not getting that much momentum
or that much recovery that I think or
we're going to Rally because what you
need is you need a lot of open interest
a lot of momentum and so far it has gone
up a bit but you need much more than
this all right so a rally a breakout I
don't think it's most likely but the
thing is is that if you compare notco to
other cryptos like what you want to see
after a crash like this is this all
right so a V shape what most of the
cryptos are doing right now is a big
spike down but they're kind of bottoming
out right here and finding some
resistance so not even sure what kind of
what what shape that is but it's it's
not great and then you look at NCoin and
that's actually forming a pretty nice V
shape here now like I said so that's a
good initial reaction we're also getting
some bullish breakouts right here above
1.9 cents for example and above two
cents which are all key levels which we
broke above so that's all great um but
like I said to to Really Turn bullish
here um we need to break above 2.1 cents
that would make us technically bullish
but even if if we do that we would just
consolidate because to really be bullish
and RAR you need much more open
interest um and for not going to gain
open interest now I think the markets
need to find some sort of of better
better Direction um and I think that's a
possibility maybe tomorrow morning or or
or maybe tomorrow or maybe Sunday or
Monday morning excuse me
well then it's a possibility but for now
that's not what I expect so good
reaction for NCoin that that makes me
fundamentally for for NCoin more bullish
in the in the in the future so I do
think that noton has a chance to Rally
again at some point of time um when the
open interest starts to rally and when
we get a significant bullish breakout
all right so when that happens I'll let
you know or at least when I when I think
that happens I'll let you know it's also
technically POS possible today I mean if
we break above 2.1 cents here while the
open interest has gone up then a lot is
possible but it's um it it just doesn't
seem likely to me it seems more likely
to me that we'll find resistance here
and that will just kind of lay low um
similar to what we've done for the last
3 days or so uh basically just
consolidating with a bit of a bearish uh
bit of a bearish bias that's what I
expect for now all right so
fundamentally technically I'm actually
bullish on NCoin but realistically
looking at the markets right now and
looking at the technicals for not um
it's it's more you should expect us it's
more likely that we will continue to to
lay low consolidate and then uh and then
maybe gets a little bit more bearish
depending on what the market does so
like I said I I'll keep you updated on
this because I do think that NCoin has a
chance to to to breakout and it rally
pretty quickly I mean we've also seen it
in the past NCoin is a is is a is a fast
moving crypto so if that happens I'll
probably make some sort of an emergency
update but for now I think uh I think
this is what you need to know and this
is what you need to be prepared for all
right so thank you for watching take
care and bye
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