BITTREX:XEMUSD   NewEconomyMovement / Dollar (calculated by TradingView)
NEMs price is holding up strong while many others continue to decline. At a recent peak in the price, XEM             created a head and shoulders pattern which sparked a reversal and a bearish push until the EMA (200) and around the 2/1 Gann fan line. This push has now completed the head and shoulders breakout and the price is ready to rise once again. The price has used the EMA (200) on 5 occasions since July (including the current testing of this level), this brings me confidence when claiming that the price is expected to start its bullish push once again to continue its long-term trend. This level is also backed and supported by the 78.6% fib retracement level and the fact that the RSI was very recently oversold. There is currently no divergence but seeing as though the volume is expected to become bullish again when the RSI increases, the price will increase accordingly. Due to the head and shoulders patterns breakout completion, the neckline of this pattern becomes a strong resistance level which is the basis for the first price target in the bullish direction. The second is characterized by the top of the right shoulder and a level the head used as support when it was almost completed.

Important Resistance Levels: $1.29, 0.839
Important Support Levels: 0.357

DISCLAIMER

WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.

CONFLICTS OF INTEREST

GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.

Written by:
Arham Bheda
Senior Research Analyst
-- 
Sincerely,

Cryptocurrency Capital LLC
t.me/cryptocurrency_capital
info@cryptocurrencyfund.us
http://www.cryptocurrencyfund.us
Deutsch
English
English (UK)
English (IN)
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Startseite Aktien-Screener Devisen Signal-Finder Kryptowährung Signal-Finder Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden