$XMRUSD: Continuation to the downside highly probable

BITFINEX:XMRUSD   Monero / U.S. Dollar
Looking closely at the Monero charts, it seems like we topped, and can expect a significantly strong decline for the next 10 weeks. I wouldn't reccomend ANYONE to hodl, ANY coin. All altcoins show this pattern, and even $BTC is significantly weak, albeit a bit stronger than alts.
This scenario would be invalidated if we go back up above the red box on chart.

Best of luck,

Ivan Labrie.
Comment: Looks like the weekly downtrend resumes here.
Comment: On track...
Comment: Notice the speed line resistance here, if it breaks and doesn't go any lower, the weekly decline might fail and we might bounce back to the starting point of this move down. But that won't confirm for a good while, so, I'd rather let things play out, maybe cover shorts or trail stops if short.
Trade closed manually: I'd reccomend to avoid shorting any further. This might recover with BTC next. ETC is also poised to rally to like $33 possible, after next week.
Comment: It did recover as expected, look at the date...It also topped right against the original speed line resistance level above, the 75% speed line of the last decline.
+1 Reply
IvanLabrie tlzkrh1029
@tlzkrh1029, thanks.
give it a few more days, perhaps a little over a week or so.
Hey mate any chance of posting predictions for some other main alts too? Thanks man!!
+1 Reply
do u have any idea about etc
+1 Reply
@fayyad, I'll post the other main alts as well. Thanks.
+3 Reply
+1 Reply
fayyad IvanLabrie
@IvanLabrie, thanx alot ivan
Nice technical analysis :)
+1 Reply
@TheTrex, thanks, best of luck!
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