So far making big englufing bar on daily. If stays like this in next 8 hours cup and handle (or even inverted head and shoulders patter) will be in place.
Target for move higher as per chart.
Sitting at ~8500 sats support level w/ UCTS Buy signals across every HTF(1D+)
Golden cross (EMA50/200) about to happen..
Showing signs of hodling at LTF (accumulation at support) should allow for a retest of ~9400sats(~10%)
Tight SL just in case BTC decides to ruin it
When price doesn´t move for a 8 months, after a long downtrend, I think it´s very bullish sign and sign of huge accumulation. I think, we will see finishing 5 wave structure, because on lower time frames, there is nice triangle, which should break downside, towards 7683 satoshi, and then we should see that final 5th wave. But generally, next several weeks or even...
. There is a possibility of temporary retracement to suggested support line (0.00825). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. XMRBTC 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.
The TA is pretty straight forward here - we could be seeing the makings of a trendline break dating back to July 2018.
It is pretty clear that if BTC can make the break above $4200, then Monero will be a primed candidate to outperform.
risk vs reward profile is pretty sweet here- Upside targets towards $0.015 (1.618 extensions) and stops below the 38.2 fib...