CryptoCoinNomad
Short

Monero to test long-term support level?

POLONIEX:XMRBTC   Monero / Bitcoin
We had previously expected XMR to make a significant move upwards due to:

(1.) BTC             pulling back;
(2.) XMR wallet on Jaxx, release scheduled for 21st Nov https://www.reddit.com/r/Monero/comments/5cks6f/jaxx_monero_integration_update/?st=ivq21jk5&sh=70a32fb5

However,

(1.) Due, probably in large part, to real world economic factors such as Yuan devaluation, Indian demonetisation and a run to an alternative 'safe haven' while gold             and silver             turn bearish . BTC             is looking strong again and is continuing it's climb up and attempting to punch through resistance around $760.
(2.) Jaxx have posted a progress update which suggests that the planned release of their XMR wallet on the Jaxx platform may be put off till an indefinite date https://www.reddit.com/r/Monero/comments/5dsqrf/jaxx_monero_integration_update_3/?st=ivpdi3xz&sh=20c31de1
(3.) Head & Shoulders pattern suggests a move down.
(4.) Bearish flag suggests a move down.

For these reasons, we can expect XMR to continue a bearish decline until interest is rekindled by the scheduled hard fork on Jan 5th.
Order cancelled: XMR broke out of bearish flag / head & shoulders pattern as BTC continues decline in price and rumours circulated that Coinomi would be including XMR in their wallet platform in the future.
These opinions shouldn't be considered as trading advice. Always conduct your own research before making a trade. And only invest what you can afford to lose. Only the whales know which way the waves will flow... and sometimes even they get it wrong!
January 5th
Reply
@TahirKhan2a, thanks, I will amend :)
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out