FieryTrading

🔥 XMR Falling Wedge: Bullish Break Out Near?

BINANCE:XMRUSDT   Monero / TetherUS
Since topping out in April last year, XMR has seen a strong down trend. During this period, XMR has formed a falling wedge pattern. Classically, falling wedges are bullish reversal patterns.

With the crypto, and especially the stock markets, seeing nice gains lately, the probability for XMR breaking out bullish increases by the day.

However, the break out is not there yet. Wait for a big green daily candle to confirm the break out before entering a bullish position. Consequently, in case we fall back, buying in from the bottom support of the pattern might be a good longer-term swing trade entry.

Happy trading!

🎯Crypto Signals & EXCLUSIVE analyses: https://t.me/FieryTradingChannel

📈Try my Premium Signals for 🚨FREE🚨: https://t.me/FT_Futures_free

🔥Premium channel & 💎Contact: http://www.fierytrading.com

💰Lower Your Trading Fees: https://taplink.cc/fierytrading
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.