NEM Hits Support (Decision Point), What Now?
NEM (XEMBTC) just hit MA200 as support. Once this level was conquered as resistance, it can later work as support.
Last time MA200 was conquered prices moved up with good momentum and volume, this is almost always true.
Now that MA200 is in-play again we reach a "decision point"... Here is how it works, keeping it simple:
1) If prices stay above MA200, we go bullish right away.
2) If prices close below this level, we have a retrace and then the next bullish wave.
No matter what happens, we remain bullish long-term.
This is not financial advice.
Namaste.
Last time MA200 was conquered prices moved up with good momentum and volume, this is almost always true.
Now that MA200 is in-play again we reach a "decision point"... Here is how it works, keeping it simple:
1) If prices stay above MA200, we go bullish right away.
2) If prices close below this level, we have a retrace and then the next bullish wave.
No matter what happens, we remain bullish long-term.
This is not financial advice.
Namaste.
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