Implications and Outlook
1. Crypto currency investors and traders are an experiencing yet another annoying as well as slow-moving trading sessions, given that the major cryptos are trading in narrow and tight, ranges. Trading action decreased as well, as trading volumes are lower across the board. The lack of strength of Bitcoin and also the Monero tend to be balancing the market segment out, even though the continuing much broader static correction of the previous month run-up also put some pressure on the market.
2. Monero further bearish momentum is likely to hit Key Resistance $189 and Coin Dip $184. Price action is continually confirming the value of the intermediate-term Mean Resistance of $213 following Coin Dip completion.
3. Current bearish/bullish bias is 60/40
4. As the Monero is essential for the broader market segment, traders and investors should continue to be cautious until the upcoming significant Support/Resistance points are developed and validated, as slow to trade types of conditions may carry on and dominate for a while.
5. Please see this article about the crypto market - enjoy. www.tradingsig.com/b...25000-this-year.html
1. Crypto currency investors and traders are an experiencing yet another annoying as well as slow-moving trading sessions, given that the major cryptos are trading in narrow and tight, ranges. Trading action decreased as well, as trading volumes are lower across the board. The lack of strength of Bitcoin and also the Monero tend to be balancing the market segment out, even though the continuing much broader static correction of the previous month run-up also put some pressure on the market.
2. Monero further bearish momentum is likely to hit Key Resistance $189 and Coin Dip $184. Price action is continually confirming the value of the intermediate-term Mean Resistance of $213 following Coin Dip completion.
3. Current bearish/bullish bias is 60/40
4. As the Monero is essential for the broader market segment, traders and investors should continue to be cautious until the upcoming significant Support/Resistance points are developed and validated, as slow to trade types of conditions may carry on and dominate for a while.
5. Please see this article about the crypto market - enjoy. www.tradingsig.com/b...25000-this-year.html
Comment:
Correction on Item #2: it should read 'Mean Support $189' not 'Key Resistance $189'