XEM is mirroring BTCUSD moves.

Divergences say me to be bullish here. Until the black line holds of course.

Note

Nice triangle, but with Bitcoin under 5000 chance of success are small. I will only observe if 4h candle can close significantly higher than 25cents.

Note

Market maker as always (recent in August) does not believe apparently that Bitcoin can pass trough 5000, and XEM is retarded in his moves up in comparison to BTC. But when 5000 will be broken, here in XEMUSD should be adjusting of price to that move of BTC.

Note

There is no bullish confirmation for that triangle in XEMUSD so far

4h candle has been closed little above the black line, and we see retrace. So for now this triangle is not played.

Note

In the middle of August BTC does strong recovery:

Note

XEM makes his moves accordingly to that moves of BTC, but in the last phase, there is higher volatility and making local high is postponed by around 3 days.

Note

So i suppose if Bitcoin will reach now in this move 5000 or more, XEM should do his wave up few days later. All this depends of course what market maker think and will make.

Note

Very important for market behaviour (not only for XEM, for other cryptos too)
is the situation of extending wave 2(B?) in this recovery move from around 3000.

Note

The more longer will be the second wave (more than 1 to 1, so much above 4650, ideally few hundred $ above 5000 that will give 1.618 fibo extension), the more bullishness will be in alts and in XEM.

Note

In contrary, every deeper retrace from 4600-5000 area, and alts with XEM will be in deeper correction mode. Of cource without any fundamental news (or hype news).

Note

Market doesn't want to play bullish formation, so now will lay bearish. Target 20-21cents

Note

second target 18cents

orminlange

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

orminlange