XMR Triple Bottom & Breakout!
Monero looks like it is about to complete a triple bottom on the hourly timeframe.
MACD is curling upward and I'm expecting a bullish crossover.
RSI is not overbought.
On the larger timeframe, this would be confirmation of a much larger bullish pennant breakout which could actually complete a mega-cup & handle formation.
Target: On the hourly is $297 which would complete the triple bottom and then $340 at which there will be major resistance.
If it breaches $340 from below and then finds support at that level, we are headed to the moon.
Watch Fib levels and the supply/demand zones indicated with green rectangles. These will be levels you want to take profits if making short trades. Otherwise, if the triple bottom plays out I think this one is a good long-term trade.
NFA.
MACD is curling upward and I'm expecting a bullish crossover.
RSI is not overbought.
On the larger timeframe, this would be confirmation of a much larger bullish pennant breakout which could actually complete a mega-cup & handle formation.
Target: On the hourly is $297 which would complete the triple bottom and then $340 at which there will be major resistance.
If it breaches $340 from below and then finds support at that level, we are headed to the moon.
Watch Fib levels and the supply/demand zones indicated with green rectangles. These will be levels you want to take profits if making short trades. Otherwise, if the triple bottom plays out I think this one is a good long-term trade.
NFA.
Note
Welp that didn't work out.
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