1. If monthly Elliots are to be correct, then a 4th wave has been made up now.
2. We may have to wait for it to make another bottom which is either even or higher. Right? Then it can be a rigid ground to buy.
3. Now what can we do since monthly RSI (14) is so close to a well-funded support? I prefer to buy one-third or half of the money I have at the moment.
4. NEM ATH is $2.11. Technically, from its current price toward ATH there is 466% potential "and" it is not going to stop there since NEM does have the potential to see 3 - 5X preservatively.
5. Yet, for such a growth to happen NEM needs to prove that fundamentally is capable of a fierce competition to those cryptos of higher market performance due to its conditional application growth in the industry. I mean the more it is being used, the higher the demand from the market side will come.
6. Based on Fib. Levels it has reacted to the important golden ratio of 0.786 at $0.23. Right? That is very clean.
7. Caution: since this analysis addressed the Monthly Timeframe, one needs to be patient for a year or two. Right? Then, it is deemed to be apt to growth, but we need to regard Targeted Time & Price Zones logically. Set forth realistic targets & not to the moon targets if you really do not know very well what you are buying. OK?
TP1: $0.93
TP2: $2.11
TP3: $4
TP$: $6
SL: -5 - 10%
Please buy in either 2 or 3 instalments. When it comes to targets & resistances sell in 2 or 3 instalments. Do not rush to buy or sell at once.
This is called risk & money management. You may gain less, but you may experience less damages as well.
Also, before purchasing check its FCAS to know how healthy it is.
No a financial advice. Trade happily & do it the right way & safe. Best of trades. :-)
