tududu
Short

XMR: a letter to Monero

POLONIEX:XMRBTC   Monero / Bitcoin
350 11 6
To XMRBTC:

I'm a really good person, you know? I'm kind, generous and I wish sincerely that everybody gets the best they want in life.

But as a trader, I aim to be the biggest cunt ever. I wanna make you suffer, sell your car to cover your margin call, stare all day at the chart, lose all hope then just cry and panic buy/sell. Because that's what is coming up if you are longing Monero. You gonna lose it all, then call it a scam and try to catch the knife while it hurts you so deeply the wounds might never heal. You might tell me its overextended, that it went down too much, that indicators this and that, but I'll just keep shorting until you keep giving me those sweet profits.

Yours sincerely,
tududu

PS: This is a joke, consider it a educational one regarding the risks of trading, the power of trends and how deep in trouble you can be when fighting against the market.

Targets: 0.0062 - 0.0045 - 0.0032. Cancel if 0.012 gets broken to the upside
Comment: Really interesting moment in crypto. I expect a BTC pullback to $680, and probably XMR hitting the top of the range at 0.012BTC. If BTC buys massively the $680 dip and proceeds to $1000, this XMR play might work, but if BTC engages in an intermediate bear trend (targets $560-420), XMR is mooning.

tdlr: 0.012BTC is the point to watch for failure or breakup
This could happen, but very worst case...
Reply
You are getting liquidated soon with your shorts, good luck.
Reply
tududu PRO TahirKhan2a
@TahirKhan2a, The question you have to ask here is: from a swing trader/positional point of view, who is going against the current trend here? Longs or shorts? In my trading, I only go against the trade when we hit an important pivot point and risk-reward is good enough for a long (that was at 0.058)
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@tududu, Leave that thing, tell me seriously, monero going to 0.004 again ?
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TahirKhan2a PRO TahirKhan2a
@TahirKhan2a, Is Monero market that bearish ?
Reply
tududu PRO TahirKhan2a
@TahirKhan2a, I think it's very bearish in the higher time frames, it has no proper support structure for price. There's however a chance that 0.0058 could be the bottom, given that crypto is mostly driven by speculation rather than fundamentals. There's also a chance to rest 0.0012 before going further down, it's all about finding the proper zones and reacting according to the best risk-reward.
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@tududu, Lol, do as you wish
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TahirKhan2a PRO TahirKhan2a
@TahirKhan2a, You are thinking monero will go to 0.001, hahaha
Reply
tududu PRO TahirKhan2a
@TahirKhan2a, Whoops, meant retesting the region around 0.012 before going further down. I guess it depends if BTC dips here or not.
Reply
Interesting idea, but not very realistic because XMR is standing pretty good against the BTC bull run (which will end sooner or later dramatically). It seems XMR is more a hedge against a falling BTC then ETH. Coming week the Jaxx XMR wallet should be available, so one could conclude based on the recent Github activity that the official GUI will also come out. Ring CT update is coming already in january. Then there are not foreseeable but possible options of exchanges or DNMs adding XMR. At this high BTC price I feel pretty safe in XMR.
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