Hi Everyone;
today we have one of the best risk to reward Investment opportunity
it is more than 165 times the risk and the chart is look very promising.
I expect breaking the previous bear market key point will clear the way to the final target
Monero (XMRUSD) has been very strong since the February 25 Double Bottom as it almost reached the early January High. In doing so, it broke above the Lower Highs trend-line of the May 07 All Time High (ATH) and the 1D MA200 (orange trend-line). It is possible that within this month, it will form a 1D Golden Cross (when the 1D MA50 (blue) crosses above the 1D...
Monero is seen very effectively on the Fibonacci Channel formation but since August 2020 has been trading within a Bullish Megaphone pattern.
The peaks have matched well with the Fib levels of the Channel with the current one being at 2.5.
Every peak is on the 1.618 Fib extension from the previous bottom.
Also every peak is made on or right after the LMACD...
Pattern: Bullish Megaphone on 1D.
Signal: Buy on the MA50 as the RSI got rejected while the price hit the top of the Megaphone.
Target: 400.000 which is the top of the Megaphone and just below the 2.382 Fibonacci Channel extension.
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Pattern: Bullish Megaphone on 1D.
Signal: Buy as the LMACD just formed a Bullish Cross (previously a sign of an upcoming rise within the Megaphone).
Target: 260.00 (just below the 1.5 Fibonacci extension).
Most recent XMRUSD signal:
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Throughout the whole year, every time XMRBTC broke above both the MA50 and MA200 on the 1D time-frame, the price rose by +9.50%, +27% and +60.50%.
When the MA200 broke last, we saw the strongest rises while then the MA50 broke last we saw the +9.50%.
This time it broke the MA200 last. Can it deliver a +27% or +60.50% rise?
Previous XMR signal:
**...
Pattern: Channel Down on 1W.
Signal: Bullish as the Lower High trend line broke. If it fails to get detached from the 1D MA200, then expect a 1 month consolidation first.
Target: 95.000.
Monero is on a 1W Channel Down. There is no reason to be bullish as long as it trades inside this Channel. Although it seems to be supported since the December bottom it is safer to go long once this Channel breaks upwards. I will go long above 64.700 and target 90.000.
