XMR Long (D1)
Updated
After selling climax occured in the middle of March, 2020, XMR started to slowly climbing towards the 2-year-range's upper boundary.
The majority of coins were distributed within that range. Why?
1) Selling climax
2) 2-year-long consolidation
3) quick retrace from a pullback at 120 price level.
Why long?
1) BTC already hit ATH. ETH has 2x way to go. XMR still has 3.5x room to grow towards ATH
2) strong PA near upper boundary: slowly but steadily climbing through resistance. Stronger than of BTC's!!
3) Selling Volume is declining while XMR is drawing ascending price structure and steadily scraping through...
4) R/R = 4 (first target). Nothing in between 120 and 280 levels
5) 2nd target's R/R = 6. 3d R/R = 8
Looks like a great opportunity to flip BTC to XMR. Or just Long XMR/USD.
Btw, orange curve line was drawn in Nov'19 or earlier. Don't remember exactly. But I don't have any proof. So, you can just believe me or not.
So, I was waiting for this trade 1.5 years. Patience is a virtue. But I should practice it to get that skill.
Have a nice ride!
The majority of coins were distributed within that range. Why?
1) Selling climax
2) 2-year-long consolidation
3) quick retrace from a pullback at 120 price level.
Why long?
1) BTC already hit ATH. ETH has 2x way to go. XMR still has 3.5x room to grow towards ATH
2) strong PA near upper boundary: slowly but steadily climbing through resistance. Stronger than of BTC's!!
3) Selling Volume is declining while XMR is drawing ascending price structure and steadily scraping through...
4) R/R = 4 (first target). Nothing in between 120 and 280 levels
5) 2nd target's R/R = 6. 3d R/R = 8
Looks like a great opportunity to flip BTC to XMR. Or just Long XMR/USD.
Btw, orange curve line was drawn in Nov'19 or earlier. Don't remember exactly. But I don't have any proof. So, you can just believe me or not.
So, I was waiting for this trade 1.5 years. Patience is a virtue. But I should practice it to get that skill.
Have a nice ride!
Note
Update (H1): XMR is forming ascending consolidation above 142 (above previous high). Usually this means a trend continuation.
Trade active
Resistance turned into support and was tested at 144-145 on 21-22 DecemberNote
Bittrex delisting = final shakeout before another swing highTrade active
Tp1 hit. x2 from entryTrade active
Looks like XMR is going to revisit 270 and then straight to 350Trade active
We're about to exit the accumulation zone. Nice opportunity to add to the position.if want to do it safely: wait for breakout
more aggressive entry - on current price point
Trade active
XMR goes according to the CryptoPlan
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