Price has found a temporary support at the lower median line (lml) of the ascending pitchfork. I've told you that a valid breakdown below the outside sliding line (sl1) will open the door for more drops, so you should still wait for a valid breakdown. The rate could try once again to breakout above the UML and to approach and reach the inside sliding line.
Weekly
Looking at our trend timeframe we see price has recently formed a lower high at 2.2 million satoshis, and is now looking to form a lower low near 1.6 million. Stochastic RSI showing momentum is looking to form a lower and and we should see price follow. A weekly reversal is ideal before taking an potions on XMR.
Daily
Shifting over to our pattern...
XMR has bottomed out and will reverse soon. Usually ABC corrections will go until the 0.786% fibonacci level (wave 4)
Purple rectangle is a safe buy zone.
Using Bitmex Cobra on shorter timeframes is very profitable! I used the 15min. for this one.
Percent profitable: 78%
Profit Factor: 6.9
Bitmex Cobra is a highly profitable trading strategy which can help to spot profitable trades as early as they occur or even before. With Bitmex Cobra you get trading signals right on the chart which tells you when you should...
Expect XMR to hit resistance at the bottom of the daily ichi cloud. Touch down again around 18k sats, possible accumulation, then blast off.
This depends on btc remaining steady (as does every alt prediction).
BITTREX:XMRBTC finds itself in a similar spot as the last few times it found a bottom (see clouds).
BITTREX:XMRBTC very rarely makes it to a completed "TD Buy Set UP" for the weekly time frame. In fact, it has historically bottomed in week 7 (which we're in currently) just as it makes a bearish fall beneath the 50MA.
The last 2 weekly 7s (had you bought the...
Price is fighting hard to increase and to reach the inside sliding line (sl) and the sliding line (SL) of the descending pitchfork. A failure to make a valid breakout above the sliding line (sl) will signal another drop. However, a drop towards the uptrend line will be confirmed only by a valid breakdown below the lower median line (lml) and below the outside...
After Monero found the bottom at btc 0.0177 price went up and today reached btc 0.022. On its' way up price broke above the descending channel as well as 23.6% Fibonacci resistance level at btc 0.021.
But at the same time XMR/BTC today rejected the 200 Moving Average, preventing it to move higher. This could result in a correctional move down or consolidation....
Monero (XMR) just broke out of a falling wedge reversal pattern after bouncing from a December 2017 support.
Take a look at the following chart:
A closer look:
- You can also notice the strong bullish divergence on the MACD.
- Double bounce from oversold on the RSI.
- Plus two positive daily candles.
Monero (XMR) Long Term Trade by Alan Masters
TRADE...
XMR, the top anonymity coin has sustained a breakout from its downward channel with USD and BTC.
We target a 50% fibonacci retracement from its end of April high. Use small leverage and capital. BTC is hovering along the edge zone of a downward channel, and a small movement in BTC could impact the price of XMR substantially.
Buy: 120-125
Target 1: 135...
Technical analysis:
. MONERO/BITCOIN is in a downtrend and beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 51.
Trading suggestion:
. The price is in a downtrend and we forecast the uptrend would begin.
. There is a possibility of temporary retracement to suggested support zone...
Technical analysis:
. MONERO/BITCOIN is in a downtrend and beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 51.
Trading suggestion:
. The price is in a downtrend and we forecast the uptrend would begin.
. There is a possibility of temporary retracement to suggested support zone...
I've been predicting this formation for a while (see related post called "Hold off on Monero. It's a long way down"). Last week we saw a major dip (albeit momentary) that proved to be a sign of things to come. We're now headed in a relatively clean arc downward to touch the support line that's been consistent for the last year. Keep in mind, I LOVE Monero....
