Will a historical pattern once again offer support for XMR?
Updated
BITTREX:XMRBTC finds itself in a similar spot as the last few times it found a bottom (see clouds).
BITTREX:XMRBTC very rarely makes it to a completed "TD Buy Set UP" for the weekly time frame. In fact, it has historically bottomed in week 7 (which we're in currently) just as it makes a bearish fall beneath the 50MA.
The last 2 weekly 7s (had you bought the bottom) returned 200% and 250% respectively from top to bottom.
Below is a snapshot of the same chart for daily time frame. If you look closely...you'll see that each of the clouds (weekly 6/7 bottoms) contain completed daily TDBuy Set Ups. What did Monero just complete a couple days ago? A TDBuy Set Up.
tradethe9s.com
BITTREX:XMRBTC very rarely makes it to a completed "TD Buy Set UP" for the weekly time frame. In fact, it has historically bottomed in week 7 (which we're in currently) just as it makes a bearish fall beneath the 50MA.
The last 2 weekly 7s (had you bought the bottom) returned 200% and 250% respectively from top to bottom.
Below is a snapshot of the same chart for daily time frame. If you look closely...you'll see that each of the clouds (weekly 6/7 bottoms) contain completed daily TDBuy Set Ups. What did Monero just complete a couple days ago? A TDBuy Set Up.
tradethe9s.com
Note
Made slightly lower lows this week (week 8 of 9 in TD Buy Set Up).Good news:
The TD Buy set Up on weekly chart is now "perfected".
XMR holding up against BTC better than almost all other alts.
Bad news:
BTC chart looking not so good. :[
Note
Trade active
Monero has been one of the strongest alts since this post(people likely seeking refuge in the most stable of coins in this current Bear)
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