BITFINEX:XMRUSD   Monero / U.S. Dollar
Watch this EW - theory. We´ve had a ABCDE - correction wave from ATH to 150$, followed by 5 part impulse wave.
And actually we´re in a ABC-correction wave form, precisely in the c-wave which could lead us to the last low at 150$.
Please give comments, when I´ve made mistakes in my EW-wave analysis. Thx .

Monero is also in a triangle pattern and has just broken the lower limit of this triangle. A fall to the fib retracement at 23.6% (177$, red line) = support is very possible. This would confirm the c-wave .

After reaching the lowest point and turning upwards, Monero has the potential to rise up to the descending trend line (red), now at around 340$. There are several resistance lines between and we´ll see if EW-theory can help us on the way up.

RSI: low - but not oversold
ADX: momentum of negative DI is rising
Volume: low
EMA 50: Monero far below

conclusion: we could see a small recover on the fib retracement at 177$ (23.6%) before continueing to lower levels

This analysis fails if Monero climbs above the swing trend line (orange) 208$.
Mar 29
Trade active
Apr 02
Trade closed: target reached:
We´ve finished the corective wave and have just entered in the first motive wave.
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