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Xembtclong

XEMBTC has limited bearish potential:bullish biasPrice action in XEMBTC (NEM) from the May 22, 2017 high of ~0.00013911 down to a low of ~ 0.00001128 (on Dec. 8, 2017) is corrective i.e. a 3 wave move in this case that I have labelled as an A-B-C Elliott wave structure. This implies either at least another 3 wave move back up or the resumption of a bullish impulsive wave. Price swing upwards from the Dec. 8, 2017 low up to a high of ~0.00010264 on Jan. 4 2018 was rather another correction (3 wave move), and not impulse move. The current price swing downwards from the Jan. 4 2018 high is either wave (C) (to be labelled capital letter and in pink) or wave B ( capital letter and in red). Either scenario implies the resumption of at least another 3 wave move back upwards or impulsive move. Since both scenarios point upwards(bullish), XEMBTC should be considered for a long position (bullish). Support 1 (between 0.00003263 and 0.00002451) is a likely target for the current downswing in price and if price breaks through Support 1, Support2 (between 0.00001244 and 0.00000235) would likely offer a floor for XEMBTC. Assuming a scenario where price continues to sell off and reaches Support 1, buying a break out after consolidation at Support 1 (e.g. at ~0.00003271 and placing the stop loss below Support 1 e.g. 0.00002447 would give a risk = 0.00003271- 0.00002447 = 0.00000824 Reward = 0.00006858 (Bottom range of Target 1) - 0.00003271 = 0.00003587 Risk/Reward ratio = 0.00003587/0.00000824 = ~4.4:1. Use of a break out above Support 1 as explained above for example and using the bottom range of target area 2 to take profit will give a risk/reward of ~7.3:1 . Use of the bottom range of target 3 to take profit gives a risk/reward ratio of ~10.4:1 Range for Target 1: 0.00006858 and 0.00007573 Range for Target 2: 0.00009321 and 0.00010503 Range for Target 3: 0.00011808 and 0.00013852
by Coin_Analyst
NEMBTC ,A good opportunity for long trades in XEMBTCTrading suggestion: There is possibility of temporary retracement to suggested support zone (0.000088 to 0.000072), if so, traders can set orders based on Daily-Trading-Opportunities (Price Action) and expect to reach short-term targets. .Beginning of Buy zone (0.000088) .Ending of Buy zone (0.000072) Take Profit: TP1= @ 0.000106 TP2= @ 0.000137 TP3= @ Free Technical analysis: .Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. . Relative strength index ( RSI ) is 53. .Current short-term is range bound, but beginning of uptrend is expected.
Long
by ForecastCity
3
XEMBTC Falling WedgeWhat I See NEM is almost done with the correction back to level 1. Risk minimized. Falling wedge is running out of space Has been down-trending for 4-6 months, a breakout is near Last swing high is very far, at 7000 sats. NEM can move to next fib levels (color lines) What to Do Set buy alerts in zones where falling wedge could breakout. Use an app or Tradingview alerts. Set buys between wedge breakout point and .236 fib level, depending on your risk appetite. Watch for price reaction around resistance levels (orange) Set a stop loss at the lowest resistance level or 1 fib level. I am not setting stop loss as I am long on this coin, although I do recommend you do.
Long
by JCBCrypto
3