chickenboye

XMR/BTC - Previous Resistance Acting as Support

Long
KRAKEN:XMRBTC   Monero / Bitcoin
Quick Idea. "Monerun", or coordinated mass withdrawals, clearly hit exchanges where it hurt. Monero quickly began to outperform the market during the week of the event.

A retrace is expected, although many thought we would surpass $300 before seeing it, hindsight is 20/20 and it's clear this IS the retrace.

This could prove to be a great place to buy in if this previous resistance holds as support. Otherwise, I'd expect a move down to 0.0048.

Considering we were < 0.004 at the beginning of the year, I think this all still within healthy bullish macro behavior and monero will end the year strongly.
Comment: :)
Comment: :(
Comment: ... :)
Comment: defended again on the 15/16 of June '22
safe to say 0.0053 is a buy I think
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.