orminlange

XEM have bounce from intresting area.

BITTREX:XEMUSD   NEM / US Dollar (calculated by TradingView)
Logarithmic, daily chart , and dotted trendline (based on daily closings) worked here well out. But this of course does not guarantee, that this dip was the last one. It is however worth to show. We must remember that real XEM trade began little earlier than in April 2015. It was in October 2014, when XEMs stakes (2.250.000XEMs each) were traded on Nextcoin Asset Exchange (or something like that i dont remember how it was called). So the starting point is in this month (October 2014).


There was some small divergence in case of RSI14 (daily) indicator, but for me is to small, to say that this dip was the last one. Maybe good idea is to wait for some dumps under 14cents to catch much larger divergence in the nearest future. But of course each trader should judge himself, where is suitable moment to jump in here. I own 80.000XEMs and can live without any more, but in case of new dips i will look closely if this will be good opportunity to tank some more to the main stack.


In case of 4h chart we had here beautiful double bottom formation with divergence @RSI14 too.
The same, but without double bottom @ XEMBTC pair:

Comment:
Two redlines (logarithmic chart, the redlines are made on daily closings prices and maximal procices reached intraday - shadows of the candles)

This redlines are for now hard to pass, succesful attack can be good signal to entry here.
Comment: Closer look @ 4h logarithmic chart:

Comment: after break of dotted line i expect first the test of 9-10cents, and after that some bounce and maybe spikes to the few cents. Of course if Bitcoin will fall to 5000-4000-3000$ area.

Comment: In contrary, after succesful attack on the doubled redline i expect upmove to minimum 29cents.

Comments

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