2 OPTIONS WITH NEM (xem)
We have been free falling for more then 2 months now! I think we touched the bottom and won't go below 0.2 USD. We are moving inside a , which indicates a . No doubt that we are in a hard with no signals of reversing to any time soon. Until the brighter tomorrow, lets set some targets! (I formed this channel on weekly chart)
We could see bigger move and test long established trend line/support (ORANGE line) at the price around 0.2 usd. From there on we can move towards TARGET 1 (blue line) and TARGET 2 (green line) and eventually test the upper line of the channel. I would spread my sells between tg1 and tg2. Here we are looking at 40-70% move.
We move sideways for a bit and then shoot to target 2 (green line). Here we are looking at 20% move.
On Weekly chart we can see testing support. We can see a bounce from that level and test the upper line of a channel.
Wish you all good trading, do your own research before make any calls.