Brisben
Long

Looks Like Monero Is About To Go HAM

BITTREX:XMRBTC   Monero / Bitcoin
On December 28, I posted a chart highlighting what I thought was the most important line in the history of Monero. I have updated it here. In the past two years the price of Monero has interacted with this key level 8 times. More often than not it acted as strong resistance and the price fell back immediately. The one time this way not the case was in August-September of 2017 where the price stayed above this level for 38 days before falling like a brick due to BTC             running. Since the 6th             of January 2018 we have remained well above this key level for a period of 52 days, which is very significant.

I believe that we are building a massive, four month ascending triangle , which is going to breakout in the next few weeks.

There are multiple reasons why I'm bullish on Monero. From a TA perspective, the RSI is strong, the Stoch allows for serious growth, and the Ichimoku cloud is giving 3/3 bullish signals. From a FA perspective, the MoneroV Hardfork will take place on March 14. This is a hardfork that many believe will address core issues with Monero. Others believe that like most hardforks these days it's just a money grab. Regardless, I believe it will inspire some serious price action, as long as exchange support is announced in advance.

PM me for entries, targets, custom charts, access to my paid Telegram group or my chart analysis course.
Comment: Monero is flying! Trying to do a flippening on ZCash!
Comment: Possible C&H builing on the 1h chart
Comment: Here is the big picture chart I'm using for Monero at the moment.
Comment: I have to imagine Monero will drop somewhat if BTC runs in the next couple of days. Setting some low buys based on previous support and the median line.