Hello, in this post I will share boh my Analysis and Strategy on XMR/BTC (Monero).
Monero is the top 13 coins in terms of marketcap, used to be in the top 8, lost 90% in value since last ATH, and is I believe undervalued right now.
This said Monero's price is indexed on Bitcoin, and tends to behave nicely when Bitcoin...
Monero ( XMRBTC ) is trading within an ascending channel and is showing a pretty simple and basic set up and it looklike last bulish movement for BTC with similar pattern.
Now that the lower end of the channel has been touched, you can expect a bounce from current price level.
If XMRBTC is to drop lower, support can be found on the next fib. level.
Looking likely that XMR is gearing up for a move upwards. Plenty of Higher-Lows in the candles with bullish momentum and support.
Been to higher zones on the fib previous, could be a possible move back up there again.
Tight stop losses if entering. Bitcoin behaviour matters on this.
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...
$XMR / $BTC Trying to recovery from recent bottom in a W shaped pattern
UCTS buy signal on the 6H targeting as 1st target the .0088 sats
MACD trying to bullcross as action tries to flip resistance into support at .0081 sats.
More volume is needed if we aim for continuation
update on $XMR, previous post was a great opportunity to enter into Monero (currently 15% up since the massive sell candle/volume.
If you didn't get into it yet, waiting a break/flip over resistance at .0089sats looks like a great second entry for a ride back to .01 levels
See my related idea below.
I think Monero has the best fundamentals over any other crypto.
Monero is one of the best crypto project. Low fee, untraceable, fungible, deflationary etc.. Monero is the real synonym of decentralization. Monero is what bitcoin was supposed to be in first hand, and it works.
Do not miss your chance to grab some xmr at such price. (...
Play by play, from left-to-right
Price dumps to QRsi - 10 levels
Consolidation at -7 to -10
Volatility Gap on escape candle from -7 consolidation pattern
First trend resistance is a big rejection
Second Trend interaction crosses now as support
Price re-tests this breakout R2S trend while making a lower low, completing
BULL DIVS on the QRsi