MONERO is showing one of the largest bullish divergence gaps I've seen in a long, long time, after dropping about 40% in a day. This was obviously a coordinated attack to manipulate the price of XMR, as it is hated by the power's that be, because it can not be tracked, traced or controlled by their corrupt ring of criminal governments. Their pathetic attempt is now backfiring, as all they did was give XMR investor's the opportunity of a lifetime to buy even more XMR at the best discounted price they've probably seen in years.
If you trade this, trade with caution, as they could do it again.
Good luck and always use a stop loss.
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Here's a zoomed out snap of the daily chart to give you a better idea of the overall chart.
It’s getting delisted from Binance. That’s what pushed the price down.
MetaShackle
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@RuckusRick, Yeah, I saw that after I had posted the chart. That probably contributed to the stern bounce off the lows, because people who knew the delisting was coming either used that info themselves, or tipped off other's with insider info, so they could get in at an amazingly low entry, and flip a quick profit. There's no limit to the amount of corruption companies like Binance engage in on the reg.
MyCryptoParadise_Nathan
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Your observation of the significant bullish divergence gap amidst a coordinated price drop is indeed intriguing.
MetaShackle
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@MyCryptoParadise_Nathan, Most holders of Monero could care less if it's on Binance, or any other exchange, in fact, most would prefer that it's not, and it probably actually reduces their risk overall, as companies like Binance are likely to fail in the very near future do to unethical business practices, shady deals, and outright criminal activity from management. Plus, it's widely accepted in Mexico by individuals and businesses already. Monero simply doesn't need Binance.