Next Economy Movement (NEM) is always on of the list of top cryptocurrencies by market capitalization. It is sitting at #17 with almost $900,000,000.00 in Market cap. This is a very strong project and it has huge potential. The charts are looking simply great for this coin. This one has been a good money maker for us in the past... Let's take a look, let's see what we can spot on the weekly chart:
- Green volume increasing. Still not enough, but the first signal to watch for. - On the right, we have a nine negative count marked by the TD Sequential indicator. This is followed by a hammer and green volume. The price has flattened and is starting to move up. - Very strong bullish divergence on the daily time frame (this signal is yet to show up on the weekly). - We have the bullish hammer candlestick formed on the week that we hit the lowest point, the same price from which XEMBTC bounced back in March and December 2017, followed by a very strong bull run. - MACD bullish crossover. RSI and STOCH oversold (I consider RSI 30 on the weekly oversold). - You can also see our targets on the chart above...
Let's continue with the trade instructions, XEMBTC is good to trade.
Trade instructions for XEMBTC by Alan Masters Trades
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