Monero (XMR) is a private, secure, and untraceable cryptocurrency that was launched April 18th, 2014. With Monero, it is said you are in complete control of your funds and privacy no one else can see anyone else's balances or transactions.
This is to hold long term, not for swing trading.
Daily is showing some clear support on the daily 50 Smma, after having spent the bear market below it (except for false breakouts that lasted only some days/week).
The pattern is clearly showing more buyers than sellers, raising over this blue Smma and using it as a support.
The Smma 200 in pink is more resistive,...
If you have seen any of my other publications, you would know that I am super bullish on crypto.
Monero is just another beauty that I cover, which is shaping up nicely as a rounded bottom. The weekly chart has now seen 4 full closes above the 100MA, and re-tests are getting bought up. Also note, that weekly 20 (orange) is curling up aggressively,...
Since the last Report, that was published before the Libra announcement, things changed, and market pushed higher.
However, we still hitting a major price juncture, and a $2.5k price dump in BTC has shown that. However, alts held reasonably well, so what happens next?
I am not sure who is buying at these levels now, but those people must have deep pockets....
This trade idea is for demonstration and educational purposes only. Trade at your own risk.
We see a possible teacup formation. Key things to note:
1. Price is being contained within an ascending channel.
2. Price is very well respecting the 50% fib level and using this level as dynamic support.
3. Possible makings of teacup in terms of handle formation....
Here's a side by side weekly and daily time frame of $XMR Monero against US dollar. As you can see on the weekly, the price has been moving in-between a range of support and resistance from 82 to 120 USD. We attempted two weeks to break above the 120 region of resistance but failed, which took us back to the 82 region, and currently trading slightly...