detalmusic
Long

XMR upward trend set to continue

BINANCE:XMRBTC   Monero / Bitcoin
Quick analysis of XMR, which I consider to be a great option in these bearish times.

  • This week XMR has been trending up within the channel
  • Strong trend support (lower bound of channel) set to continue
  • Tested resistance at 31,000 sat's twice today already. If this breaks through the price will likely spike upward

In addition:
  • Volume over past day has slowly increased - likely accumulation before takeoff
  • Decreasing BBW indicating that volatility is reducing and BB Squeeze is likely
  • Cyclical increasing patterns of DMI+

Look to accumulate in the bottom half of the channel and ride the gain train.
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