It is highly possible that we can repeat history of deep correction from last year (around 90% of whole rise to 2800sat). Now we have got 14000sat ATH and 90% correction should give price of 1400sat. It is shitty for those who have bought high, but this is crypto, much more risky than FOREX.
I feel dumpers do good promotion before XEM can go to the stars:)
I'll try to catch some longs @4800, and @3600-3700sat. From 4800sat area bounce should be to 6000sat, and from 3600 easily to 4800-5000area. That scenario is only possible if we break 6000sat support level. On XEMUSD chart (historical data for daily candles imported to metatrader 4) i dont see any signs of positive reversal so price should go down to 0.05-0.1 area.
Pending buy order @6050sat (15000XEMs) first profit target 7500-8300 area.
For those with "huge balls". Long entry (15000XEMs) First profit target around 8000sat. I'll stop this trade aftersign that 6000sat is broken.
I think we may see flash crash here. And then slowly accumulation period. XEMBTC must in this case brake down 5400-5700 sat area for scenario of "limbo" 3000sat+ area should be good for accumulating longs on this pair ( In the same time USD capitalisation of NEM should go down to 500-900 milions area). After this limbo (or for FOMO buyers from 10000sat+ area...
Maybe from this level, maybe little lower but should correct.
Volatility is strong, but trade what u see not what u think;)
Ping-Pong as always when whale dont give this pair direction. So we should retest lower black line around 6800sat.
As You see price action indicates indecision, for brave trader it's a good short time speculative opportunity. I try to seek small longs in the blue rectangle area, when other indicators tell me that local bottom is possible here.
Very harmonic bullish bat, take profits should be near black line up (aagresive take profit), or around 0.0001 (conservative take profit)
Ok, today i'am neutral, I hold logterm position in XEM, but i'am not searching in this waves counting new positions, as I see still correction potentian, even if we see move to 0.00012-0.00014 area. From that area (if it holds price pump) I expect to see another corrective wave down (but not so deep as that from 0.00014 to 0.00006 maybe circa 4000-5000satoshi. And...
After greater bat formation (fulfiled to 61.8 Fibo), we have now emerging smaller bat, I try to seek longs in the blue rectangle area, only if other indicators will say so (small waves counting on m1 and m5 charts, and my favoured A/D indicator, RSI 14 and CCI 21 with divergences). So dumpers give me cheap XEMies!;)
Potential for this formation is +17.000.000 on AD indicator (now we have -900.000.000), so XEM has much space for longterm growth.
Now on the price we see this possible formation, buy after breaking 0.00009 with target around 0.00012