Price prediction 2017 August 1: NEM coin (XEM) - long term bullish trendline respected
If Bitcoin breaks the long term 3000USD price barrier signalling a new bullish run I would expect XEM to fully recover after it's nearly two month long bearish run.
Everything depend on Bitcoin price and hardfork situation. If Bitcoin starts a new bullish wave we can expect many altcoins to rise fast, since most charts look similar: an insane run of the summer begining is now corrected but overall 2017 trendline upwards is still on.
I also would give high probability for Bitcoin to move upwards due to:
- Lower amounts of Bitcoin in exchanges
- People are likely to cashout their BCC instead of BTC for profits, since this is basically free money.
All eyes on Bitcoin , stop loss under the long term trendline (0.00005090).
For more ideas follow me on: https://www.tradingview.com/u/juliusjulius/
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