Either way i'm extremely bullish on XMR
Monero has always been a great asset to hide money from anybody on earth and i think people will keep using it for this wonderful reason.
So this trade is very simple, we're talking about a 230% increase (risk/reward ratio completely insane)
Entry should be around 0.027-8
First target around 0.05
Second target 0.09
Monero is scheduled to to a Hard Fork sometime in March (every 6 month). Price rise is expected - MACD is healthy - RSI is oversold in short term - looks very good longer term
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MONERO is in Range bound but Resumption of uptrend is expected.
In DAILY chart , A hammer pattern is formed which is the first sign of the beginning Ascending wave.
The price touched the strong uptrend line in Daily Chart . It is below the 21-Day WEMA which acts as a dynamic resistance.
The RSI is at 48 and above a RSI support level.
MONERO, is in Up trend.
The price is now above the 21-Day WEMA which acts as a dynamic support and prevents from more losses.
DAILY RSI is 52 and above a support level.
In H4 RSI there is a strong downtrend line and as long as bullish exit is not happened Price will drop more.
There is possibility of temporary...
Monero/USD is trading still above 38% Fib retracement but was much lower during the Christmas holidays. Demand is still strong but we can officially announce a bear market beginning. We will monitor very carefully what's going on next couple of weeks.
wanted to share this idea with you. Monero seems like a good long-term investment to me because of its anonymity and the talks around it being listed on coinbase next year. Furthermore,although there is a strong up trend, the MACD looks good and the next correction seems to be far away.
Have a good day!
Watching monero closely for a breakout of a long-term pennant. Movement and a close above 0.0193 signals a possible move to new highs. All indicators hinting towards bullish sentiment with room to run. Watching closely today, and planning to add on any dips.
Monero looking like a very nice long position right now, puling out of consolidation phase and presenting some new signs of additional volume out of the channel. Watch these Fib levels closely, but looks to me like this would be a very nice time to go long.
Entry at the long position position, but be aware of possible bear traps as always.
The price bounced from 0.0164 resistance level. At least in short term we have a bearish trend.
We have to watch closely for price action in this zone, because this zone can be a starting point for a new upward movement. We have to wait for a reversal signal confirmed by RSI. Pending orders should be placed at ~0.0116-0.0130 levels with stop orders at ~0.0107 level.
Pro Bullish movement:
1) Money flow is rising.
2) It formed a nice flag. When the breakout occurs, potential profit is 96% from the breakout point. (calculated by taking the height of the flagpole from the point it broke above major prior resistance. Prior resistance would be the blue line.)
3) The volume during the lifetime of the flag has been decreasing....
This chart is the perfect example of a Crypto Currency Scaling up. The patterns make sense and are as volatile as any crypto out there. Manic, Depressive and as Crazy as a Red Head ex-girlfriend. Monero is simple and has a huge community like Bitcoin with all the misfits and nerds that want to remain anonymous as we once thought Bitcoin was. "Ohhh...
Monero appears to be breaking out from support but there is resistance it must break through to succeed
This is a counter-trend trade so trade smaller. Risk reward is 2.25:1
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