This is has been a steep learning curve for so many of us. I've learnt to not act on emotion, zoom out, look at the wider time frame, have patience and stick to my guns. In light of that I've sold a large chuck of favourite coin in favour of the TA! Let see how this plays out. Anyone that can spot any major flaws in this please feel free to point them out. I am still learning.
Like you I have been keeping a close eye on Monero and I have learned a lot over the years and months in crypto, I think one of my bigger lessons has been to be patient (through days and weeks) and to scale positions in/out in chunks. I do think several markets on polo, including Monero, are often manipulated by bots. As a result I am skeptical of TA, however Bitcoin as the tide that moves all boats seems to hold true. I think we have some more upside before Bitcoin moves positive (Feb/Mar). I think Monero RSI will breach 70 before we see a reversal.
1emibias
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@farinspace, You might be right there, even by my own TA the RSI breaching 70 here is highly possible, I sold short of the target on the daily because of some downside I saw coming on the hourly. But I think that was a risk worth taking considering I'm looking at a 35% plus drop.. If this plays as I'm calling it I'll be buying back in around the last week in Feb.
Thanks for your input, I appreciate it.
farinspace
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@1emibias, reminds me of a recent post by @goldbug1 and a quote by JP Morgan "I Made a Fortune Getting Out Too Soon" .. another important lesson I've learned "Don't be greedy", we simply can not time the market precisely.