Monero XMR flush toilet time
Updated
@fontase on twitter is not me. Is imposter. My lawyer will contact him.
Short term buy euphoria is likely over now.
1. Volume decrease to 1/3 of mid-trend
2. Uptrend-line broken to downside (see in zoom-chart)
3. Indicator RSI bearish divergence, same with other oscillators like Fisher, MACD , ROC, SRSI, CCI
In essence the trend is slowing down or stopping.
4. We went up 1000% in a month. Obviously this is going to crash like a bitch.
Stop loss at 0.0263 (all time high). Targets 20% close each at 0.013, 0.0115, 0.0101, 0.00933, 0.00755. Will probably be a quick deep crash, then correction up, then a long drawn out bear market.
Short term buy euphoria is likely over now.
1. Volume decrease to 1/3 of mid-trend
2. Uptrend-line broken to downside (see in zoom-chart)
3. Indicator RSI bearish divergence, same with other oscillators like Fisher, MACD , ROC, SRSI, CCI
In essence the trend is slowing down or stopping.
4. We went up 1000% in a month. Obviously this is going to crash like a bitch.
Stop loss at 0.0263 (all time high). Targets 20% close each at 0.013, 0.0115, 0.0101, 0.00933, 0.00755. Will probably be a quick deep crash, then correction up, then a long drawn out bear market.
Note
Trade active
Short XMR until bottoming signs are in. Will probably be a W-bottom with high volume or a V bottom with a smaller slow dump after - Similar to previous bottoms. Once this happens I will enter long term XMR long position. After reading the whitepaper this coin is superior to BTC in many aspects - exp emission curve, 1% inflation, mining decentralization, cryptonight CPU hash, auto-anonymity, block time, block diff target, block size incentives, ring keys. However 0 payment processors, no infrastructure and limited utility only in darknetmarkets thus far. Just like BTC in 2010Note
Continuation of trade. current price 0.014099. Perfect thus farNote
Current price 0.01229. 2 of 5 targets reached, 40% of positions closed deep in profit thus farTrade closed: target reached
Current price 0.01317. I close all short positions. Conditions no longer perfect. Cumulative volume dump signals the the dump is losing steam. Lower targets are still possible so I don't enter a long yet. RESULT - Given entry at 0.02021 and exits at 0.013, 0.0115, 0.01317, theoretical 57.4% profit on this trade. However, with slippage and fees for my large trade size, actual profit only 51.02%.Trade closed: target reached
Trade closed: target reached
Thx for watching me flush the toilet on XMR for 51.02% in realtimeNote
Update, Increased size of cold storage long position to 4% of total crypto holding. This position I plan to hold for 5+ years.
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