Hey guys,
This time i'm taking a look at XEM.
As with most altcoins,this seems to be resting at the very bottom of the white line of the triangle,that's been confirmed at least 5 times.
Problem is,we were in the same situation with the green-triangle support line that we broke under.We still lack the volume necessary to get this growing.
How to trade: My advice would be to wait and see.A breakout out of this triangle would imply the appearance of a Golden Cross,which is one of the clearest signals in technical analysis,once it's confirmed.
(Golden cross= a bullish breakout pattern formed from a crossover involving a price's short-term moving average breaking above its long-term moving average>>>In our case,200MA crossing under 30 and 50 MA<<<)
You can use the ''Blockfolio'' mobile app to set some alerts on the price,in order not to miss out this potential opportunity.
Chances are,break out of this triangle UPWARD,so if you really want to get into this trade now,you can buy and set a stop-loss at the 2389 satoshi line,just to be sure you have your funds protected.
As always,i hope everything plays out according to plan,so that we all get to benefit from this.
Cheers!
This time i'm taking a look at XEM.
As with most altcoins,this seems to be resting at the very bottom of the white line of the triangle,that's been confirmed at least 5 times.
Problem is,we were in the same situation with the green-triangle support line that we broke under.We still lack the volume necessary to get this growing.
How to trade: My advice would be to wait and see.A breakout out of this triangle would imply the appearance of a Golden Cross,which is one of the clearest signals in technical analysis,once it's confirmed.
(Golden cross= a bullish breakout pattern formed from a crossover involving a price's short-term moving average breaking above its long-term moving average>>>In our case,200MA crossing under 30 and 50 MA<<<)
You can use the ''Blockfolio'' mobile app to set some alerts on the price,in order not to miss out this potential opportunity.
Chances are,break out of this triangle UPWARD,so if you really want to get into this trade now,you can buy and set a stop-loss at the 2389 satoshi line,just to be sure you have your funds protected.
As always,i hope everything plays out according to plan,so that we all get to benefit from this.
Cheers!