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XEMBTC trade ideas

NEMBTC consolidation, then 100 % gainsNEM has started it's consolidation cycle after coming down half-way from its last all time high. This is coinciding with a drop in BTCUSD after present "bull trap". I do not think this is really a bull trap just a wave 1 of a much larger impulse wave. Anyway looking back to NEM's last complete cycle, we see a very similar fractal pattern which corresponds almost exactly with the same BTC cycle that we now observe. I suggest NEMBTC will continue to consolidate over the next days/weeks as the last of the "weak hands" are shaken from the BTC magic money tree. When the whales have had their fill, BTC will start the next wave up (soonish) and NEMBTC will begin a price run just as before. This could see potential gains of 100 % in NEMBTC. I also now see a potential drop in BTCUSD to 8200 USD, which is 70% of the "bull trap". This corresponds nicely to the July 2017 drop illustrated. Time frame is at least one month for completion.
Long
by RealMcafee
3
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