NEM / BitcoinLong
NEM on structured breakout to the downside, before upward move?
NEM - This Altcoin seems to have completed a breakout to the downside for a possible path towards the second support area, before a very strong upward move.
However, TDI does show the RSI line has breached the outer lower band and could either form a sharkfin or follow along the lower outside band until a lower sold position.
The Blueberry EMA is running alongside a major trendline and so it is possible that it may either be pinned by the price action OR the Mayo could be pinned and then return upwards. Blueberry EMA is below the price action and all trend lines display, uptrend so this coin is still in a bullish trend.
I will not purchase any of this coin as yet, I'll just wait until more price action completes a more clearer pattern.
NEM seems to be a good coin to purchase long term, but the entry must be optimal in order to maxise profit.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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However, TDI does show the RSI line has breached the outer lower band and could either form a sharkfin or follow along the lower outside band until a lower sold position.
The Blueberry EMA is running alongside a major trendline and so it is possible that it may either be pinned by the price action OR the Mayo could be pinned and then return upwards. Blueberry EMA is below the price action and all trend lines display, uptrend so this coin is still in a bullish trend.
I will not purchase any of this coin as yet, I'll just wait until more price action completes a more clearer pattern.
NEM seems to be a good coin to purchase long term, but the entry must be optimal in order to maxise profit.
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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Disclaimer
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