XMR looking scary

Surprised by this, one of the strongest projects out there. Yet the chart is telling us something else. A breakdown of a symmetrical triangle that began in downtrend is confirmed on the 3-day chart. 3-day charts are not to be ignored. The breakdown almost happened exactly on the 80% point of the triangle, perfect. Volume is absent, RSI and Stochastic charts continue in downtrend. The projected targets are measured from height of symmetrical triangle and strong support levels, it's a long way down.

Trade active

Scary XMR continues with a candle closing below the 200-week moving average on the weekly chart.

Trade active

No indication yet of imminent reversal, RSI resistance continues to dominate.

Trade closed: target reached

80% pullback to the target drawn just over 13 months ago.

Price action has landed on major support and has recently printed a massive Dragonfly DOJI candle on the 5-day chart below. Time to rotate.

without_worries

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Weblink: patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR

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without_worries

BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR

Also on: