Hey all, looking at NEM/BTC we see that RSI is massively oversold here and price is resting on bottom support of falling wedge. Last few times it was this oversold we saw a big 20%+ pop vs BTC. NEM is due here imo.
However I'm not convinced this is bottom and we will continue on up, just a quick reverse of current downtrend and perhaps more correction to follow afterwards. In it for short term.
GL
However I'm not convinced this is bottom and we will continue on up, just a quick reverse of current downtrend and perhaps more correction to follow afterwards. In it for short term.
GL
Note
The red line on chart was a fairly strong support so I'd expect retrace to come close to reaching this line or top of wedge before reversing back down.Note
REALLY REALLY CLOSE NOW. XEM is in a triangle now which looks like it wants to dip a few sitoshi more but if you look at the candles on bittrex chart, every little dip is being bought up immediately leaving a bunch of low wicks in every candle on even the 30min. A day trader can cycle 1% gains every half hour in a spot like this but it just confirms for me that many ppl are waiting for the next impulse waves up with XEM.And again any advice/links on how to post a chart within update would be appreciated bc it would be better if I could show you the wicks instead of just referring to them and letting you look for yourselves.
SOON...esp if BTC stays rangebound allowing alts to run
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.