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.

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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.
Great post
+1 Reply
Brisben UNOwen
@UNOwen, Thanks mate :D