ChaosTrader63
Long

Monero vs USD Descending Triangle Pattern

BITFINEX:XMRUSD   Monero / U.S. Dollar
If you are trading cryptos, you know that a lot of cryptocurrencies are bearish but Monero vs USD could be one that turns the tide. The crypto is currently trading at the support level of a Descending Triangle Pattern at 167.750 and also showing a bullish divergence on the On Balance Volume . The current price action shows indecision at the level with a doji the past three days. Price is trading inside of the doji but furthermore the current price is trading an inside candlestick pattern. Coupled together with the other aspects mentioned, we could see a bounce at this level and price move higher. If price closes outside of the current Mother Bar then this could be confirmation that price may bounce and we can enter the trade long.
support did not hold!
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