Trading recommendations: Bitcoin Cash(BCH), STRATIS(STRAT), NEM(XEM)

hellscrypto (25)in #stratis • 7 years ago

Bitcoin Cash chart is still down

Long term, the trend of the Bitcoin Cash chart is still down. The 200-Day EMA provide significant resistance. The upper descending trend line also provide strong resistance.RSI is below 50, a sign of an down trend. The MACD turned down but earlier the MACD showed positive divergence indicating the uptrend would begin however it might possible to be a fake buy signal.

https://www.tradingview.com/chart/BCHBTC/nNNrdFgO-Bitcoin-Cash-chart-is-still-down/

Buy STRAT, Be Smart

The monthly time frame is the only time frame reflecting bullish clues. The 1D TF trend chart shows the formation of horizontal channel with resistance at the 200-Day moving average at the 0.001. There is support at the 0.0009 area. This is typical of a coins that is facing a slow growth after strong downtrend.RSI is below 50 a sign of an downtrend, but this is due to the fact that in the last three days the BTC price has strengthened. The MACD line is turning up through its signal line giving a buy sign. The trend on the daily chart remains sideways between defined support and resistance. However, do not forget the fact that soon on the platform will be the first ICO.

https://www.tradingview.com/chart/STRATBTC/HdD0kKxr-Buy-STRAT-Be-Smart/

XEM Will Enter Oversold Territory

The Relative Strength Indicator is 32 that is near the oversold area, indicating a downtrend is in place. However, it should be noted that the short term price increase for XEM after the coin touch the oversold zone is not what will drives the price. The Moving Average convergence Divergence is also below zero, we have entered to the strong bear market.The analysis of the daily trends of the XEM chart shows we remain in a bear market with key resistance at the 100-Day exponential moving average and the support of 200-Day EMA. In addition, in the range from 5k to 6.5k Sats was a large volume trade which indicates that this level can become a resistance or act as the support.