Cryptos took a major hit across the board, as did stocks. The difference between stocks and cryptos is that followers of this account were well prepared for the bloodbath. See for example this article, this one, this one , and this one. Here, we follow up on another successful prediction.
We predicted that Monero would break down against Bitcoin as persistent weakness wreaks havoc on this coin. In particular, we called out the level 16339, which is exactly where XMRBTC found support. Although we have crossed quite an expanse of a vacuum zone, we still may see more fallout. Though some consolidation or a relief rally should be expected. When bear momentum picks up again, we turn to levels cited in the attached article in the 15000 handle, specifically, 15649 and 15107. We know we're wrong, at least for the moment, if we can break through levels from above and stabilize at the 18000 handle, at the 1.618 Fibonacci Extension level.
Thanks for checking out my follow up post and bonus points if you read the original post where we made this prediction in the first place! Please show some love and give a like if you feel you've benefitted from this analysis. Subscribe to me if you want more insights and technical analysis!
We predicted that Monero would break down against Bitcoin as persistent weakness wreaks havoc on this coin. In particular, we called out the level 16339, which is exactly where XMRBTC found support. Although we have crossed quite an expanse of a vacuum zone, we still may see more fallout. Though some consolidation or a relief rally should be expected. When bear momentum picks up again, we turn to levels cited in the attached article in the 15000 handle, specifically, 15649 and 15107. We know we're wrong, at least for the moment, if we can break through levels from above and stabilize at the 18000 handle, at the 1.618 Fibonacci Extension level.
Thanks for checking out my follow up post and bonus points if you read the original post where we made this prediction in the first place! Please show some love and give a like if you feel you've benefitted from this analysis. Subscribe to me if you want more insights and technical analysis!