POLONIEX:XMRBTC   Monero / Bitcoin
After a long bearish trend Monero appears to have found a bottom level around ~0.00577 which conforms to the trend line prior to the huge price spike in September, and has been starting to climb its way back up and arguably held ground particularly well during the BTC volatility during the conclusion of the USA presidential elections.

I will update as new info becomes apparent.

Feedback much appreciated. Thanks!
Trade closed: target reached: Target of 0.01 reached far quicker than conservative projections.

Strong support is showing as BTC is weakening. I still expect BTC to test and fall below $700 shortly, with a target of $600 in the short term prior to a turn around back upwards.
A drop in BTC price will see traders looking to take profit elsewhere with XMR being a great candidate.

The next XMR target I'm looking at is ~0.0115, I aim to publish a new chart soon, either shortly prior to or after this target being met.
XMR price has decided to spend some more time testing the resistance / support line ~0.0086 and in doing so is now forming a pennant.

The pennant appears to have developed out of a prior support / resistance line which existed within the bullish flag pattern (both pennant and support line now overlaid as broken purple lines in the chart attached below).

If this pattern continues it could be the case that any pullback remains above the ~0.0081 level prior to a run up to test the ~0.01 level.

The outlook remains bullish.

snapshot
Reply
Target of 0.01 reached far quicker than conservative projections.

Strong support is showing as BTC is weakening. I still expect BTC to test and fall below $700 shortly, with a target of $600 in the short term prior to a turn around back upwards.
A drop in BTC price will see traders looking to take profit elsewhere with XMR being a great candidate.

The next XMR target I'm looking at is ~0.0115, I aim to publish a new chart soon, either shortly prior to or after this target being met.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out