BITFINEX:XMRBTC   Monero / Bitcoin
Hello Lads and Ladies,

Monero is since the beginning of the year in a channel between 0.024 and 0.030750. Looking back we see that as soon as XMR breaks the 0.024 support it bounces back up to 0.031 after a short move sideways pretty soon. As we are looking at the chart right now, XMR has just hit the crucial support line and either makes now the sideway move, or breaks down to the 61.8% fibs line at 0.021 from where it would bounce back up pretty fast. Therefore the BUY ZONE is allocated between the 50% fibs and 61.8% fibs lines. Since Bollinger Bands were just crossed at their top, there is a good chance we see it coming down to 61.8% fibs.

Short term, look for buying opportunities under 0.022
Long term, chill and sell a good chunk at 0.030
If you are already in, you can gamble with 25%-50% that it goes down to 0.021 and re-buy at the buy zone.

As a JOKE we are testing the rocket formation theory.

Cheers, Tomas

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