If Monero can bounce off this trendline, we will see a big bounce.
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I realize it has been well over a month since I drew this and no update. My apologies and if you ever want an update just ask. As monero approaches the trendline I'll open long positions and place a stop just under.
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This chart has done a fairly good job of tracking Monero so far...Yes, it is almost 3 months old now but until it is invalidated I don't have a real reason to post a new one. That said, we are approaching an interesting trend line at around the $103 level. Buying at the 103/104 level with a stop set at $98 is a pretty attractive trade to me. We might get stopped out but the reward is greater than the risk.
Kudos your prediction was actually close to spot on
Weavs844
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@ChrisTsorotes, It totally missed the trendline and just bounced off the price level from when it went up during the bull market... I feel like I'm in twilight zone.
itzgaurav12345
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Cant agree more wow! @ChrisTsorotes,
TechnoComanche
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Time to draw sum nu asc. TriANGLE ;)
Smoak
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Monero has been super bearish but is looking oversold on the lower timeframes. I opened some long positions as we touched this trendline and have my stop set just under -- minimal risk but chance of a decent bounce here.
Note: Japan is cracking down on all of the privacy coins and coincheck will remove monero on June 18th. My understanding is that, after the 18th, any monero in left users wallets will be sold at market rate. So, this is a very short term trade for me.