Looks like Monero is gonna trigger this double bottom that I posted an idea on last week or so. $240 is the target *not financial advice*
Comment:
It may try to go back down and retest the neckline first but with such a big green candle closing definitively above the neckline, any retest should only serve to confirm suppport.
Comment:
Surprising to see after such a big green candle well above the enckline that the follow up candle would close below it, however these kind of patterns tend to rarely trigger the breakout on the first breach of the neckline. The current red daily candle suggests that the double bottom could be a fakeout, but I wouldn’t be surprised if the real fakeout is the fakeout its currently suggesting. Best to wait and see where this candle closes first before making any solid judgement on whether its confirmation of anything.
Comment:
Monero well on its way to the breakout target now.
Comment:
Getting closer and closer.
Comment:
Target hit!!
Comment:
We can now see the measured move target is acting as exact resistance like clockwork. Always a wise place to close longs at.