Within the space of two months, Moero has managed to fall into 2 troughs and climb its way out. This is evident from the inverted head and shoulders in early February. and subsequent stability, thereafter. It seems as if Monero really does depend on seasonality of crop. The markets might shift down or up but it has its group of loyal supporters. I see Monero hitting a sell soon. Therefore, a short is recommended.
With the recent run up it's hard to deny that a correction is likely. Exactly where are you recommending selling? Are you looking for any specific signals of a turn around? 100% of holdings? Any other recommendations?
baronbloe
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@hortstu, Thanks for the comment. I think Monero stays within its upper and lower limits consistently. I am recommending selling at time of writing and as per the chart. Monero will lose some value as the MoneroV fork finishes.
hortstu
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@baronbloe, Thank you. The more you explain your analysis the more I'll be looking at it, commenting/ questioning, and up voting.
baronbloe
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@hortstu, hey I love getting feedback. Rare to see constructive critisicm. Will do.
hortstu
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@baronbloe, So what do you think the current range is on monero and why? I assume you believe we just saw the current high. Where is the bottom that you're buying back in?
baronbloe
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@hortstu, I think the lower end will be $270-&280 range. BTC will pick up. Monero and other coins will shed value as buyers jump on the band wagon - again.
hortstu
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@baronbloe, How do you think the recent development with ledger integration getting noticeably closer will affect the price? Can that be factored into the TA? Should I still be watching for swings between 280 and 360 considering the development today?
baronbloe
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@hortstu, since I haven’t heard of Monero ledger integration until now. I wouldn’t factor it in to any decisions.
baronbloe
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@hortstu, I’m also curious. Seeing as Bitcoin Private and Monero are both privacy coins. Do you think there will be a one-upsmanship going on between these coins?
hortstu
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@baronbloe, I think that it was already going on with zcash. They spend a ton on marketing and no one really raises the resources to combat this. It's really just taken on by the community that supports monero. I always thought zclassic was zcahs without all the extra expense. I'm not really sure what's going on since the fork. I like privacy coins. I wouldn't mind seeing more than one rise to the top as long as they're really private and really decentralized.