Here we have mutliple years of data for Monero vs Bitcoin (XMRBTC).
Let's read the chart.
We have a bullish bias based on the fact that a low was set in December 2020 that has never been tested again.
We see a consolidation pattern forming, lower highs and higher lows...
This will lead to a pressure point where a break will occur.
We also have a cup & handle...
Monero/Bitcoin seems to be forming this massive long term pennant structure on the weekly log scale. XMR has been performing quite well this year compared to most of the crypto market, especially Ethereum. However I'm not entirely convinced it will hold support if it breaks out. I think bitcoin has a few more months of bear market to work itself through before...
The recent crypto melt down has not changed my call on Monero relative to BTC.
I have been shaken out of my position and I already regret it.
The long term outperformance of XMR relative to bitcoin is still valid.
The downturn only provided a strong backtest of the breakout.
PRESENTLY THIS IS A NO BRAINER !
Monroe has broken a long-term trend in its weekly chart and is recording a pullback to it. If the upward trend of the downtrend is stabilized and reversed, good growth is expected.
I hope you find this analysis useful🌹
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The reasons because I took a decent position in Monero are the following:
1 never before in history has privacy been under attack globally
2 people need privacy not only if they are evil (they need it especially if they are good intentioned ;o)
3 monero has some interesting protocol upgrade coming, that will make it more private and more scalable
4 xmr has been...
Since topping during the heights of the previous bull-cycle, XMR has been losing most of its value against Bitcoin.
During this down trend, the dotted purple trend line has been respected. However, XMR/BTC has recently broken out of said bearish trend.
Since XMR is one of the few untraceable cryptos, one could guess that this has something to do with the...
time has come for ltc to show how the long awaited mweb works. rivaling against xmr over mainstream privacy will take a while until xmr retakes its position as the one that is more private. xmr retaking the position will probably leave ltc bleeding, potentially after some issues being discovered with mweb or exchanges delisting it due to privacy features. this...
If we duplicate the rest of the current corrective cycle through the bars pattern with similar geometry, it breaks out of the 5 year resistance! Not saying it will happen but it is intriguing. Similar ideas have worked. Additionally, it looks like we could still face 20% downside against BTC before the potential resistance break.
What do you think? Will the XMR 5...
Price crated an N wave on the 4hr timeframe price is below the Kumo which is a bear market. Price is also rejecting off the fractal order block, take profit is marked by the Fib extension tool.
Quick Idea. "Monerun", or coordinated mass withdrawals, clearly hit exchanges where it hurt. Monero quickly began to outperform the market during the week of the event.
A retrace is expected, although many thought we would surpass $300 before seeing it, hindsight is 20/20 and it's clear this IS the retrace.
This could prove to be a great place to buy in if...
Following this move upside now trading the downside. Setup is pretty simple, as detailed in the chart, and straightforward. You can short now or wait for a rebound which isn't really garantueed to happen, and close at the previous highs of the previous pumps waiting for a potential rebound (to short again, check ZECBTC recent for a better picture). GL
Tuesday 19th April
XMR BTC ripped up to the 1.272 Fib extension of 0.006896
Looking very positive but very overbought now
Watch for a pullback
Upper sell targets have been hit
Money flow looks like it is reversing, but this is a very positive move for privacy coins.
Maybe the Canadians and Russians have created new demand for these coins?
On the 12 hour we...
Tuesday 19th April
XMR BTC ripped up to the 1.272 Fib extension of 0.006896
Looking very positive but very overbought now
Watch for a pullback
Upper sell targets have been hit
Money flow looks like it is reversing, but this is a very positive move for privacy coins.
Maybe the Canadians and Russians have created new demand for these coins?
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