After forming a double top pattern, the inevitable fall came and XEM / NEM was forgotten by many, being the fourth most important coin in the ranking of the crypto market.
Following Bulkowski's theory about the Adam & Adam double top pattern, where levels A, B and C are marked, and then take a change in the trend towards a bull market. coinmarketcap.com
We will...
XEM
looks like we are getting a move here
The target if we gather momentum and volume should be the Bollinger bands (note it is adjusted settings for strong moves)
Please do your own research
The wedge is getting cosy for XEM. It will have to decide in the coming days. There seems to be some strong support at around 7600 sats. Hopefully we will see a boost upwards.
I fast analysis from NEM crypto-currency (XEMBTC) mainly based on Pitchfork trend, where Pitchfork is all about to respect the zones blue and green, and lines such as median line, bottom and top blue lines and their intersection between the blue and green region. So, bases on 4hrs time-frame it is possible to see that we have a interesting trend.
Until it is...
XEM is now in accumulaion phase, so quiet. There gonna be something big in several days. The stoch is at the bottom for 1 day chart, need some good news for the start, but watch the cloud, we should not cross it.
XEMBTC from yesterday , no buyer come back . It fails to bounce the price up
Therefore, today XEMBTC will moving down to test support line
probably going down to tp1
Enjoy trade
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XEMBTC will go down soon
the opportunity to sell is now or soon
I think this trade has good ratio of risk and reward
Enjoy trading
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As You see price action indicates indecision, for brave trader it's a good short time speculative opportunity. I try to seek small longs in the blue rectangle area, when other indicators tell me that local bottom is possible here.
Since late May NEMBTC has been trading sideways. The main trend remains positive, but the short-term picture isn't that obvious: the Triangle pattern speaks of indecision among traders. It's not clear whether wave IV has been completed. In any case, I suggest employing the break-out strategy with triggers set @.7957 and .9499 levels (see chart).
I just see opportunity to buy XEMBTC
safely with good risk and reward ratio
I expect the price will go up to target profit
as it hit support and it form hammer candlestick
trade with care
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