Monero is a great coin, it has proper value and I personally think its a good hold for any potential and interested investor.
I see it bouncing low below the Fibonacci Fan, just crossed the support on that short bullish trend that lasted a week, and completely crossed the 30min Ichimoku Cloud. Does not show any oversold signals in any 1h or 2h charts. The chart shows clear signs of being overbought on both 4h and 6h. Also alongside with those charts, the MACD seems ready for a free fall.
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If we can't pass that Fibibonacci fan line at 0.618, then I may take profits and even open a long position until it reaches the 0.5 line again...
Trade closed manually
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Closed at 0.01076, took profits and moved into the next one.
Looks like we are going long again
Comments
M-ROM
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So... my point is. long-term: HODL! short term: short for a quick 10% profit
GeneralSpecific
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@M-ROM, Nice analysis. What do you think will be a good entry point?
M-ROM
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@GeneralSpecific, tricky to know... I would say as soon as below 0.0160 ? But just guessing...