Heres my case for a short on $XMR/$BTC Monero a few moments ago. Price testing major resistance, bear trend on a higher time frame, bearish divergence apparent on oscillators. I give this a 55/45 favoring a move to the downside. I could be wrong hence risk management in place with a stop loss above resistance. Targets at support levels and 2:1 r/r ratio. Lets see...
As we see the chart is currently moving in a sideways direction. It is a good situation to enter a swing trade. This is a 4hs chart the trade could run over several days. The breakthrough of the Symmetrical Triangle may lead to a new upward trend.
If it breaks up, expect massive gains! Vice versa for if it breaks down haha. I'll post TP and other updates soon. Let me know what you think!
XMR is trying to break its resistance and it has resitace at 0.0107 and then if it breaksout to 0.01105 then a breakout may happen to try and break other resistance levels.