Many folks have been proclaiming that alts are dead.
Despite this current wave of sentiment one needs to consider the following:
1. Exchanges have incentive to list altcoins.
2. Users have incentive to buy altcoins
3. Miners have incentive to mine altcoins
Why is there merit to thinking that BTC dominance will rise to 100%? Seems unlikely.
In my opinion the...
. There is a possibility of temporary retracement to suggested support line (86.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. XMRUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
All indicators (MACD, RSI) show a good time to buy more XMR now. Monero was struggling good while BTC was pumping. It could be that point as we had in 2015 Dec. 1. We just need to wait for BTCUSD go flat to open an altcoin season.
A nice little example of a textbook descending wedge pattern reversal on the 1h chart here with Monero. Over the last few days I thought it might be a little triple top but given the fact that it's bounced off the 0.008200 area of resistance several times while slowly starting to make slightly higher lows, I'm putting my cards on a descending...
Monero (XMR) is a private, secure, and untraceable cryptocurrency that was launched April 18th, 2014. With Monero, it is said you are in complete control of your funds and privacy no one else can see anyone else's balances or transactions.
According to this chart we are in the beginning of a long term impulsive bullish move. A move to $190 looks doable, crypto is a wild market indeed!
FYI GBTC has been the best performer in my brokerage account the last couple of years.
The long-term view of XMR shows a different picture. One might think that XMR is overbought compared to BTC. But we should keep in mind that XMR hasn't had a real ATH yet. XMR has developed rather slowly and organically. Accordingly, the development could continue and XMR could rise against BTC.
Let's see what happens. Happy trading. :-)