Monero Market Structure

Strength Over Knife Catching

Bulls have been active creating strong support over the last few months. The bearish case is those bounces off of support have created a Head & Shoulders pattern. Based on the current location of price on the chart it seems more prudent to buy strength(short pink horizontal lines) rather than fighting a dip that could turn into a H&S selloff.

Disclosure. The author does not own any XMR

Disclaimer

XMR Seasonal Pivot Approaching

Click Chart to Enlarge

 

This idea started on my Twitter account and then I added to it. Here it is archived for the blog. As you can see, just like ETH & DASH, XMR has also been bound to certain key dates. It is now time for it to start making it’s seasonal pivot if BTC cooperates as well.

 

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Monero (XMR): Knife Catching

Click Chart to Enlarge
Click Chart to Enlarge

 

 

Monero (XMR): Knife Catching

 

There are a lot of supports converging on Monero (XMR) at about 0.01-0.009 XMR/BTC. As you can see the yellow trend line, the bottom of the cloud, and the mathematical OTE located inside the green rectangle are all cluttered together. For those hell bent on catching a knife that area should provide some support for a bit of a push upwards. Green line is the support trend from this last bull market.Good Luck!

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

BTC Tip-Jar: 18BBg2dhuvxqwoH9u1sVeEwMgMqESAZ79a

Disclaimer: http://www.coinstreetnews.com/disclaimer/

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