Monero: Fail me once, not twice.
Monero's bullish tendency will consolidate towards the middle of December. Around the same time, I expect bitcoin to have its last move down due to the decision the FED will be taking on december 16th about the interest rates in the US. Considering this, we can expect around Nov 30th - Dec 1st a move down in Monero towards the 0.0092-0.0094 area to continue consolidating until the triangle breaks up. This move down will very likely happen while Bitcoin moves up due to the breakup of the triangle it has been in since mid November, very likely by the influence the Chinese manufacturing PMI will have in the market direction*: tradingview.com/chart/BTCCNY/nY42TvI8-Keep-care-Chinese-manufacturing-PMI/.
Special mention to Gebbo for a great graph.
Special mention to Gebbo for a great graph.
Note
Monero reached 0.0095 today. I still expect it to retrace further down to 0.0092-0.0093 within the following couple of days.
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Follow the journey of BTC & ZEC:
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Related publications
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.