Monero took out the old resistance at approx 0.025 with a bang on news it will get listed on Korean exchanges. It didn't bother to look back very much, just went for the moon :) In this proces RSI has formed a beautiful example of batmansears (double peak). Look for RSI to fall in the coming days and Monero to test the old resistance line. It is a horizontal line that has served as tough resistance in the past.. and it would surprise me if Monero does not give it the courtesy of a short revisit. Expect the line to serve as support this time and for Monero to continue its travels upwards after a succesfull test.. But don't act until the backtest has been succesfully performed, a break would give more downside potential.
React don't anticipate!
React don't anticipate!
Note
A very modest backtest seems to have been performed. Monero looking very strong considering current market conditions. Failed backtest seems very unlikely.Trade closed: target reached
Backtest completed.. up we go!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.