Nembtc
New Economy Movement Ascending Channel (XEM/BTC)XEM/BTC otherwise known as NEM/BTC has established a short term ascending triangle with considerable resistance at 3500. If the ascending channel does not break, New Economy Movement will transcend above this resistance line towards 4440. If a breakout on the ascending channel occurs, 5548 will be the next target level.
Target: 4440
Second Target: 5548
XEM (NEM) New Entry after 350% Profit (300%+ Potential)Our earlier analysis posted on 8th December generated us a ~350% profit. What's next?
For all the details visit the old analysis.
Buy in range:
(*) 0.000028 - 0.000033
Note: Preferably, new trades should be open after candle closes above 3100 satoshis.
If we don't break 3100 satoshis, new trend not yet confirmed. So if you decide to buy in, keep a short stop loss.
Old analysis trade already in and holding. (Great job HOLDing).
Targets:
(1) 0.000049
(2) 0.000089
(3) 0.000110
(4) 0.000204
(5) 0.000333
Stop loss:
(*) 0.000255
Risk/Reward: 30% / 400%+
- Indicators:
*MACD showing reversal and aiming for upward movement.
*RSI plenty of room for growth.
*EMA will work as strong support.
Note: Reversal faster than expected, which is great news.
NEM-XEM trading idea setting up for DecemberXEM is launching it's 2.0 version at the end of December. In large falling wedge since June on BTC chart! Obviously, the price has seen a reversal in USD based on BTC going banana's. A trend reversal can occur at any moment
( new money flowing into the market ). It has found some support at the current level. Hence I left the entry point broader. My personal opinion we will see a little more down supported by ( DMI, PHOENIX, RSI, STOCH RSI ). In general, we could set ourselves up for a good trade come end 2017- beginning 2018.
Accumulating XEMXEM (NEM) is one of my favorite projects to accumulate at the moment.
Check out their Twitter @NEMOfficial to see all the projects that are working with currently, it seems like there is progress almost daily.
Also check out their website to learn more about what XEM is. NEM.io
Great team behind them and the prices looked to have bottomed out with a change in the trend.
Setting my targets which I feel will be easily reached once whales have done accumulating and people start to take their eyes off Bitcoin.
I will save a decent amount for future growth after those three targets are reached.
If it does break lower then I will just continue to accumulate more at even cheaper prices.