Long for 8cents is tempting here.
My next vision is basically constructed with new approach to technical analysis, presented by this guy
As i expect from market another wave down, the only way on this thin market is to trade in XEMJPY (as XEMCNY and exchange for it is not good at all for me), so we must recalculate levels from USD to JPY.
This is how i count waves for XEMUSD in logarithmic chart.
Double bottom @30min chart The whole area 16-19cents was supportive for this bounce, we must remember anyway, that situation is corelated with BTCUSD bounce from around 3000. Both pairs behave similar, but there is always some differencies too. I dont say "buy now before too late". The trend in Crypto is now distorted after chinese gossips, and FUDsters public...
Weekly logarithmic chart above shows possibilities of decline, based on past corrective moves after overpricing this pair.
This things happens after so much growth. Correction to 1000+ is welcome.
As i wrote in title. Look @ 4h chart. Any bounce from blue rectangle area will be bullish signal and hope for another dynamic wave in BTCUSD. If this area will be broken, let's say we see drop to 3400 or lower on closed 4h candles, than i will say BTC is done for weeks or even months. Even bounce from 3000 will not be for me so attractive as bounce from blue...