Last week i did my analysis and prediction on the steem price and the market did exactly what i said it will do, today i'm predicting the price of the New Economy Movement (nem). although it is a wise decision to buy altcoins this year but you need to be careful and be well informed about which coins are good for long term investment and which one are good for a short inverstement.
Why i think nem will go up
There are to many reasons that give me confident to buy nem, first look at the 4 hour chart above nem is in the middle of the triangle and there is a possibility for nem to break the triangle and go up, we also see a nice structure based set up. the market went up to .00014000 satoshi and came back to test the previous support around 0.0008000, i'm now expecting the market to test the previous resistance again around 0.0001400 satoshi
Daily timeframe
On a daily timeframe we also have the nice structure set up, i'm buying around the red line and the stop loss around 0.00007000 satoshi, this not a long term investment, it just a day trader strategy but holding on your nem may be profitable in long run, if you believe in the future of cryptocurrencies
Disclaimer:
The information provided on this page might be incorrect. I am not responsible if you lose money using the information on this page! This is not an investment advice, just my opinion and analysis for educational or entertainment purposes.