XMRBTC - Decent Chance of Reversal

XMRBTC may reverse it's downtrend. I am supposed to be scaling in, but I just went in at 0.0069 with entire position. Oops.

If my idea fails and the isolated support level breaks, then next stop for XMRBTC is 0.004 (I'll double check on this). I do not think that will happen though.

Note

Here's an example of an isolated resistance point on BTCUSD, and this reversed the trend:

Note

Either down trend reverses, or crash down to very low levels which I find unlikely.

If XMRBTC really gets valued at 0.004, that's 2.5 XMR for 0.01 BTC, seems like a steal. Almost like $1000 BTC.

0.1 BTC for 25 XMR, helluva deal. ;) Which is why it won't get that low.

Note

I am still holding my position at 0.0069.

Note

Weekly RSI needs to break 46. Usually I don't care about RSI as much, but for these trading pairs this indicator matters a bit more.

We are also at the 21 week EMA and SMA. If it breaks those, then we my have a bullish environment. If not, maybe 0.004 will be next stop.

Trade closed: target reached

UnknownUnicorn1000353

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.

UnknownUnicorn1000353