cheynos
Long

Why I bought XMR, update (XMRBTC,XMRUSD,XMRSHORTS)

BITFINEX:XMRUSD   Monero / U.S. Dollar
Hello everyone
A lot of interesting stuff is going on for XMR, I think that the technical are ideal, this is a perfect opportunity to trade XMR (if you ask me), this is why!

XMRUSD
-So I was looking at this downwards trendline for quite some time (yellow), finally yesterday we’ve broke that very strong resistance line. This was resistance for over 5 months, the fact that we’ve broken that line is huge!
-we’ve also broke an important resistance line at 121, the next resistance we’ve to look at is at 150. I think that we’re going to find some resistance there if volume stays like this. I expect XMR to balance between 121 and 150 before breaking to the upside or downside. In the mean time we’ve got a margin of 30USD to trade with. If we confirm to break 121, than that will be a huge support-line.
-rsi is favourable. We’re going to the oversold area but there is still a big margin. RSI is now at 64, we could easily see this rally up to higher levels ( 75-80).
-the stochastic RSI has broken again at the upside which means that there is still enough momentum for XMR to go up.

XMRBTC
-very interesting chart, we can see that we’ve found support at the same support-line for 6 times now. The only way is up here! There is still a lot of margin to outperform BTC for the upcoming days. if we go back down again, then I think that the lowest point we could potentially go is down to the support line.(upwards support-line)

XMRUSDSHORTS
We can see that there are a lot of people still sceptical about XMR, that’s okay! This is a very good technology and one of the best privacy coins out there! If XMR goes up and the shorters panic, that could give a snowball effect and a lot of people that could cover their losses with buying in! there is plenty enough margin to go here!

this is a long-term trade, i don't expect XMR going to the moon today or tommorow, just think this is a very solid technology and i see a lot of potential for this coin!

(i'm a long term investor and no financial advisor, do your own research)

Love to hear your opinion on this!
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