Bullish

22 avr. 2018

Now that the CoinCheck incidence is behind us we can start to see more organic chart-patterns in NEM.

Due to market manipulation by the hacker, we can see how artificially out of trend NEM became. I suspect if it wasn't for the hack we would've at least fully tested the resistance in the small up-trend during the incident. Vertical red bars represent start and end of incident.

Almost exactly after the end of the incident we immediately started seeing a recovery.

I believe we're going to come down and retest the support on the cloud (2), break through the triangle resistance while simultaneously going end to end on the cloud (3). Either coming back to retest the cloud (4), or triangle trend line before continuing the bullish trend. You'll also notice the cloud is tightening so we may see a flip in the coming days.

RSI trending down from overbought.

Overall bullish, but I think NEM may dip for a couple days for that retest. Opening new positions is ill-advised as we are currently in the cloud. If you're looking to take a long position, it may be best to wait for (4) confirmation.

Obviously not financial advice.

23 avr. 2018

Note

Looking at the 4 hour we've been following the cloud edge, and painted a doji. Other bearish signals on the 4 hour have me feeling like we will still probably fall through the cloud.

3 mai 2018

Note

So far so good, our low hit (2) and we broke through the trend-line, and have almost completed the end-to-end on the cloud. That's 3/4 on the predictions. We haven't hit (3) yet, so we may just ride all the way to the end of the cloud and continue the upward trend above (4) towards (5). There's also a possibility of testing the bottom of the cloud.

Expect the next update in 3-4 days.