Monero (XMR) to $4000

The above 10-day chart has so much going on, how to keep it short? Of all the data I’m trawling through there’s an observation among privacy tokens that continually catches my attention, no matter which, there’s incredible bullish macro structure unfolding. With one in particular and it is not XMR.

On the above 10-day chart price action has corrected 70% since the sell signal (4-day chart below) in May of last year. A number of reasons now exist to be bullish:

1) The ‘incredible buy’ signal + bullish divergence (3-day chart below).

2) Price action breaks out of bull flag formation, just as it did in February 2020.

3) Price action tests median line of bull flag just as before in 2020 and confirms support with 10-day Dragonfly DOJI candle. Wow. What a beautiful fractal.

5) The bull flag extension takes price action to $1150

6) A larger Cup and Handle pattern is very clear to see. The pattern would confirm with price action finding support on $410. After that the measured target is $4000.

7) Wink wink nudge nudge - don't know what I mean? Shame. (for those in the know, rules confirmed).

Is it possible price action falls further? For sure.

Is it probable. No.

WW

PS: ask me for updates below.



Type: trade
Risk: <=6% of portfolio
Timeframe: 18 - 36 months
Return: 10-20x

4-day sell signal

3-day buy signal + bullish divergence

Trade active:

** 3-day life cross with price action resistance breakout **

This is on the BTC pair. Expect outperformance against BTC in dollar terms in the months ahead.

Comment:

Long from <$70

Trade active:

Significant macro breakout . only just noticed

Order cancelled:

Pah, there goes that idea.
If the fundamentals are so strong why does an exchange delisting of the asset cause it to crash through the floor?

Comment:

PS: Be cautious holding other privacy tokens such as ZEC among others.