WILL $NOT RALLY SOON!?🔥 (NOT COIN PRICE PREDICTION 2024)

Summary

In 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

00:00

📈 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.

Keywords

💡Selenic Crypto

Selenic Crypto appears to be the name of the channel or show hosting the video. It is likely focused on cryptocurrency analysis and updates, as indicated by the context of the script discussing various aspects of a cryptocurrency called NCoin. The term 'Selenic' is used to brand the content, making it recognizable to viewers.

💡NCoin

NCoin is the central subject of the video, a specific cryptocurrency that the host is analyzing. It is mentioned repeatedly throughout the script, indicating its importance to the video's theme. The host discusses its performance, potential for growth, and technical analysis, making it clear that understanding NCoin's status is crucial for the audience.

💡Dump

In the context of the video, 'dump' refers to a sudden and significant decrease in the value of a cryptocurrency, which is an undesirable event for investors. The script mentions that there was an unexpected market-wide dump, which affected NCoin, but the host notes that NCoin held up relatively well compared to other cryptocurrencies.

💡Market Wide

This term is used to describe an event that affects the entire cryptocurrency market, rather than just a single asset. The script mentions that the dump was market-wide, indicating that many cryptocurrencies were impacted, not just NCoin.

💡Bullish

Bullish is a term used in financial markets to describe a sentiment or expectation that the price of a security or asset will rise. In the script, the host expresses a bullish outlook on NCoin, suggesting that they believe its price will increase in the future, despite the recent market downturn.

💡Bearish

Conversely, bearish is a term indicating a belief that the price of an asset will fall. The script notes that more people are getting bearish on NCoin, which contrasts with the host's own bullish perspective.

💡V Shape

A 'V shape' in financial charts refers to a rapid decline followed by a rapid recovery, resembling the letter 'V'. The host mentions that most cryptocurrencies are not forming a V shape after the crash, but NCoin is, which is seen as a positive sign for its recovery.

💡Open Interest

Open interest in the context of trading refers to the total number of outstanding contracts that have not been settled. The host mentions that for a significant bullish breakout to occur, NCoin needs more open interest, indicating that the current trading activity is not yet sufficient to drive a strong price increase.

💡Breakout

A breakout in trading terms is when the price of a security or asset moves past a significant resistance level, often leading to further price movement in that direction. The script discusses the need for a breakout above certain price levels (1.9 cents and 2.1 cents) for NCoin to be considered technically bullish.

💡Consolidation

Consolidation in financial markets refers to a period where the price of an asset moves within a certain range without any significant trend. The host expects NCoin to consolidate after the recent market events, suggesting a period of stability or minor fluctuations before any major price movement.

💡Bearish Bias

A bearish bias indicates a tendency for the price of an asset to move downward. The host predicts that NCoin may continue to have a bearish bias, meaning that there is a general expectation of a decline in price, at least in the short term.

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