NEM / BitcoinLong
$XEM, Flaoting….
Weekly
Looking at our trend timeframe we see price continuing to respect our downtrend, stochastic rsi showing momentum is in favor of bulls. Expecting momentum to slow down, resistance at 1600 looking for a sell off here. Support found at 1400, will watch smaller timeframe for entry. Last time we saw 1400-1600 satoshis was back in March 2017.
Daily
Shifting over to our pattern timeframe we see price failed to form a higher high 1535, support found at 1400. Today’s candle opended 1433 with a high at 1450 and a low of 1420. Stochastic RSI showing momentum in favor of bears, expecting price to break below 1400. A daily close above/below our levels shown activates our trade.
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