Long

XMR

Updated

I am a long term Monero bull and been buying and holding throughout most of the sideways accumulation zone seen in the above chart . In my opinion XMR is the only "true cypto" . You may consider this funny if you have been conditioned to believe "BTC is it" in which case you couldnt be more wrong . Think about what the word "CRYPTO" actually means . "Cryptographic security" "Privacy" "Anonymity" . There are only a handful of coins that qualify as "true crypto" , XMR being the best example . A couple others are zcash and zano but are inferior to Monero in my opinion . The original developers of btc were in fact cryptographers that probably had a much different vision for btc than what it actually turned out to be once it became too big for it's own good .
Many think XMR may die, i disagree and the fact it's been around this long maintaining a high price speaks volumes of it's longevity . I doubt it will ever see the insane markups that btc did but i think it can 10x from here for long term holders . Monero has a far superior mining emission strategy as compared to bitcoin's "halvings" which will become a big problem in the future that will need to be addressed . The technical picture screams bullish to me and "under accumulation". My strategy is to buy, hold and wait for the markup . Good luck .

https://www.getmonero.org

Note

Although i've been hodling Monero for years, this is actually my first idea posted on it, because i feel it's time has finally come . Why do i say this ? Well, because these last couple years we have seen unprecedented attacks from government pressure to delist, deplatform, and delegitimize XMR on a global scale . Recent developments include the delisting announcement from Kraken and the shutdown of Agoradesk where people traded BTC for XMR anonymously localmonero.co/blog/announcements/winding-down?language=en . This will be shut down november 7th and may also affect access to moneros main website . It's more than obvious that as they put the screws to XMR in every way possible that they are extremely concerned about it's very existence . This also confirms that any claims about cracking XMR by chainanalysis as blatant lies . So why am i recommending a crypto that appears to be in the process of being killed off by authorities ? Well, because even after all of this, xmr continues to remain strong and more recently has developed an inverse correlation to BTC, which makes total sense . BTC represents govt control and transparency to all transactions and when distrust in this system falls then privacy based money will rise . The fact that XMR has withstood attacks that would kill an average crypto is huge . It tells me it is not going away but it may eventually have to go underground , but isnt that what "crypto" currencies were originally invented for anyway ? Ive decided that doing TA on the monero chart is basically fruitless at this time as it's range bound and is why i recommend a buy the dips and hold methodology here. Dont use stops as you will get eaten . Just buy low and hold . I actually believe that we will come to a time when you cannot buy monero , anywhere , even as it skyrockets in price. Those who accumulated early will be the lucky ones . What about exchanging it for USD ? To that i say, who cares ! If we get to that point you wont really want USD anyway anymore . You will want gold, silver, and XMR.

Trade active

Moonero is under heavy accumulation . Continue to add .

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XMR took quite a beating there short term, long term not a big deal really and expected given the strength of BTC . Adding a few leveraged longs here.

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longer term perspective xmr barely moved . Still tracing out a bullish flag after multi year accumulation . A good time to add more !

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165 is the important level for Moonero . Once we take that out again and hold above the bull market will be in full progression .

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We had a nice breakout. Time to start looking at some targets. Just an educated guess here but i can see this going to 2k and most likely higher if a wave 3 is confirmed (later) . Based on a measured move of 1900% from the covid low to 2021 is how i arrived at this and it coincides with some major fib targets near the area. Monero seems to be sniffing out some global turmoil right now, this stuff is the real "digital gold" .

6 days ago

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220 is the major breakout level to keep an eye on here . Now that we have broken this level and rallied i would expect a pullback to test it in the coming days which would be another great entry spot

SilvaBull

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