I think we may see flash crash here. And then slowly accumulation period. XEMBTC must in this case brake down 5400-5700 sat area for scenario of "limbo" 3000sat+ area should be good for accumulating longs on this pair ( In the same time USD capitalisation of NEM should go down to 500-900 milions area). After this limbo (or for FOMO buyers from 10000sat+ area "hell"), XEM should try to go much higher than ATH @14000sat (around 2,5billions USD capitalisation at that time). If area 5400sat+ holds, then we can see some bounce up to 10000-12000 sat area, time will tel which scenario will be in play:)
Comment:
After breaking support area @ 5400-5700sat, I will be convinced, that all this move to 14000sat was first wave of higher tier in Elliot's style waves counting, so called "signal wave". If area 5400-5700 will hold bears, we can even see another quick wave 5th, as 14000sat in this case was only top of wave 3rd in 1st signal wave of higher tier.
Comment:
So now i dont seek on this pair any longs. Better going to vacation and observe mode:)
Comment:
I see now some hope for XEM to rise from this level even to 10000sat, but 6000sat must hold on 4h chart. If candle closes under 6000sat bearish sentiment can be enlarged.