Monero / BitcoinShort
XMR shorting op.
Hey guys,
First time posting on TV, so bear with me =)
Figured I'd share this good, slightly obvious short-spot on xmr/btc. Technically it's interesting as there is quite some resistance in the 115 area, whilst hardly any support in the 100-110. A double top here would likely mean re-testing 65-75 range, possibly even the local low (depending on btc's movement). As the entry is around 108-112, and the s/l around 115, it's seems a very solid +EV move to me. Downside of around 5%, whilst a potential upside of around 35%. 7/8 to break even. Since XMR is tightly inversely correlated to BTC, I guess it's fair to say that this is good value for money. A break upwards in btc is almost guarenteed to push XMR down towards target area. BTC's current triangle is closing on Sunday Nov 27th, so the trade would need to be entered rather quickly.
First time posting on TV, so bear with me =)
Figured I'd share this good, slightly obvious short-spot on xmr/btc. Technically it's interesting as there is quite some resistance in the 115 area, whilst hardly any support in the 100-110. A double top here would likely mean re-testing 65-75 range, possibly even the local low (depending on btc's movement). As the entry is around 108-112, and the s/l around 115, it's seems a very solid +EV move to me. Downside of around 5%, whilst a potential upside of around 35%. 7/8 to break even. Since XMR is tightly inversely correlated to BTC, I guess it's fair to say that this is good value for money. A break upwards in btc is almost guarenteed to push XMR down towards target area. BTC's current triangle is closing on Sunday Nov 27th, so the trade would need to be entered rather quickly.
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