FlaviusTodorius67
Long

Monero lagging behind bitcoin: Eliott wave analysis

BITFINEX:XMRUSD   Monero / U.S. Dollar
I've been taking a look at Monero, and this coin looks interesting:

1. It didn't climb a lot since the low in December
2. It XMRUSD basically looks EXACTLY the same as BTCUSD
3. It's doing the same as bitcoin , but lagging behindt
4. It's now where bitcoin was 1-2 months ago
5. The coin itself is interesting because of fundamentals, anonymity etc

So, I have to revise my last analysis, which was based on an older idea for bitcoin .

But now that bitcoin is confirmed in ultra berserk mode, we of course also have other implications for altcoins.

So the above points, together with an Eliott wave count, let me believe that XMRUSD will see a nice rally, basically mirroring
BTCs rally, but with delay.

We currently haven't even started wave 3 yet in XMR, while BTC has done wave 3 and hit it's peak at 7500, currently waiting for wave 5 to 10k.

If nothing crazy or unforeseen happens to bitcoin , I think the likelihood for an XMR rally is high.

Of course, the really insane altcoin rallies will start in 2020+, when we'll see good old x10 and more :)
Thanks for the update:)
Reply
love it
+1 Reply
@Ero23, Thanks :)
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out