XMR could keep its downtrend

POLONIEX:XMRBTC   Monero / Bitcoin
519 6 8
Even if it seemed to take a deep breath and push around 0.01135, I think XMR will keep going down, pretty close to the blue line.

If it breaks up over the blue line, and passes over 0.0125 - 0.0126 we may witness a leg up and maybe we get back on a uptrend.

If it doesn't break the 0.0125ish, it would be a good entry point for a short and we can see that 0.075 coming.

Trade active: Three days later we are still on track.
Comment: 6 days straight and still on downtrend on the 4h chart. The daily also not very encouraging. We reached 0.0086 today and seems to keep going.
But I think it could stop and reverse around 0.008ish (actually could be 0.0085 or 0.0075 - The BTC rising wasn't very good for alts.)
In case it doesn't reverse and keeps going down....well, that won't be good for any bagholder.
Good luck everyone.

Comment: Still going.
We actually got way under the 0.0075. Right now we are at 0.00632.
I did close my short at 0.0065 when it started to go back up, but it seems like we are still not done with the downtrend. Also, with BTC on the rise, ZEC messing around, is difficult to predict anything at this point. But we may flirt with the 005.

Comment: Seems like we bottomed, but who knows.
Opened a small long at 0.00697
It looks pretty bad for xmr atm, buy-support keeps going lower and lower, we could see 0.008x again.
+1 Reply
YGSterling TahirKhan2a
I'm a noob, and I endorse this comment
TahirKhan2a YGSterling
Did not try to offend you but it was truth.
gyonder TahirKhan2a
so pro let's hear your view and see if you're really a pro...:)
ceddycakes TahirKhan2a
Waiting for this pro to speak "truth"
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