XMRBTC Bars Pattern IdeaIf we duplicate the rest of the current corrective cycle through the bars pattern with similar geometry, it breaks out of the 5 year resistance! Not saying it will happen but it is intriguing. Similar ideas have worked. Additionally, it looks like we could still face 20% downside against BTC before the potential resistance break.
What do you think? Will the XMR 5 year bear trend continue or will we get a breakout?
Thanks for taking a look. Good luck and don't forget to hedge your bets!
Btcxmr
XMR/BTCKeep it simple!
For XMR I have allocated three three green boxes where I would look to long XMR. These levels are based on the previous highs to the retracement levels. As it is hard to time the exact bottom for XMR I would ladder in at the three zones 1,2 and 3. For zone 1 and 2 I Would allocate 20% on my trade for each, and then have the remaining 60% of the investment at the final zone 3. My reason for this is because there is a good chance both the first and second green box do not hold as strong support and we see XMR hit the final green box before going back up. When you ladder you orders in this way you are averaging down the price in which you pay for XMR. I also see the final green box as very good support from previous price action, and that is the reason i would have most of my longs in this range. With a tight stop below the box.
]The orange boxes are where I would take profit as they are ranges of resistance. I normally take 10-20% out of my trade in these areas.
Short term I will be bearish until I see these green boxes hit and held as support.
BTCXMR Key Levels0.012545 is a key level for XMR, if it breaks that there could be a dump
Fib retracement reveals another key level at 0.0129
BITCOIN | Bitcoin Price Eyes Breakout As Trading Range Tightens Bitcoin (BTC) is stuck in a narrow $550 range between the key long-term moving averages today, but may be prepping for a breakout, the technical charts suggest.
With the bull/bear bias now unclear, the big problem now is trying to work out in which direction the price will go.
As of writing, BTC is changing hands at $8,760 - $8,500 on Bitfinex, and is trading between the 50-day moving average (MA) at $8,287 and the 100-day moving average at $8,837.
The sell-off from the May 5 high of $9,990 came to halt around the 50-day MA on Saturday. Further, the 50-day MA also acted as strong support on Monday. Meanwhile, on both occasions, the rebound from the 50-day MA ran out of steam around the 100-day MA hurdle.
The rangebound action seen in the last three days has established the 50-day MA as a major support and the 100-day MA as a formidable resistance and the breakout of this zone will likely set the tone for the next big move in BTC.
On the above chart, the falling trendline resistance is seen around $8,810 and is immediately followed by hurdle at $8,910 (expanding channel resistance).
With major moving averages (50, 100 and 200) trending south (bearish), BTC bulls will likely struggle to cut through resistance at $8,900 in a convincing manner.
Note, the bears are about to score another brownie point by pushing the 50-candle MA below the 200-candle MA (bearish crossover).
The 5-day MA and the 10-day MA (seen in the daily chart) are also biased bearish.
Bitcoin | LONG PLAYOUT | SET YOUR OWN TRADING SETUP |A move above resistance at $8,500 would provide confirmation bitcoin's bear market has ended, the technical charts indicate.
Over the weekend, the cryptocurrency clocked a three-week high of $8,458 on Bitfinex, adding credence to the short-term bull reversal confirmed last Thursday. Further, the 30 percent rally from $6,425 (April 1 low) proved that the much-feared "death cross" indicator was in fact a bear trap.As seen in the chart above, the descending trendline, representing a series of lower price highs over the last four months, is still intact. The trendline hurdle is seen around $8,500. The 50-day moving average (MA) is also lined up at 8,516.
A high volume break above the confluence of the trendline and the 50-day MA could be considered the final confirmation of the bearish-to-bullish trend change.
That said, BTC's first attempt to scale the key resistance failed - running out of steam at $8,415 and falling back to $8,100 this morning. As of writing, the ascending (bullish biased) 5-day MA is capping the downside in prices.
There may be clues as to the reason for the retreat in the short-duration chart below.
While that may be true, a convincing move above $8,500 (falling trendline hurdle as seen in the daily chart) could be considered as an advance indicator of an impending break above $11,700. That's because the breach of the trendline hurdle would signal the end of the downtrend from bitcoin's December all-time high of around $20,000.
Ari Paul on how Privacy coins like Monero will compete with BTCInvestor: Adoption of Cryptocurrency as P2P Cash is Key For Next Bull Market
Ari Paul, CIO and managing partner of cryptocurrency hedge fund BlockTower Capital, took to Twitter to share his thoughts on what might drive the next bull market: adoption as P2P cash, institutional portfolios, privacy, and marketing.
the crypto influencer argued that Bitcoin will find much growth in demand as individuals fight for their privacy in a world that increasingly embraces surveillance states. Ari Paul foresees inevitability in the power of privacy in the cryptocurrency world:
If Bitcoin is adopted *because* it supports anti-money laundering measures by investors, that opens the door for a specifically non-AML competitor.
Finally, Ari Paul recognized that the easy money obtained by so many cryptocurrency projects, some sitting on $200 million in capital and others over $1 billion, should be able to drive the bullish market.
“Unlimited budgets coupled with the world’s best marketers produce amazing results”, he wrote on Twitter. “They can create at least pumps, and with smart consumer applications maybe some real adoption.”
Why Monero’s Use Value Will Go Well Beyond any Crypto CrashElevator Pitch
Monero is a cryptocurrency that specializes in anonymity. The coin cloaks transactions and their amounts. Monero also hides all previous transaction history of a coin, which is much different from coins like Bitcoin that have an open ledger for all to see. This matters because it makes the coin fungible- any particular coin can be exchanged for another without the holder worrying about the coin’s past transactions. This unique characteristic makes Monero the most popular coin used on the darknet.
What Problem Does it Solve?
Monero keeps your data secure and hidden, which is unlike current transacting intermediaries like PayPal who share your data with over 600 companies. Not everyone cares that their data is being used as an asset, but there are certainly people that do.
Rising Through the Shadows
The darknet community has taken special interest in XMR due to its incognito characteristics. Many take advantage of these features to safely purchase illegal goods over the internet. Like that or not, it means there is a valuable use case for Monero. Darknet black markets are responsible for hundreds of millions in annual sales revenue, meaning the coin’s value will likely withstand major cryptocurrency crashes.
Monero is performing essentially the same function that Bitcoin did 8 years ago. It is rapidly becoming the primary currency for Deep Web users. Monero’s utility is likely to grow after they launch their major project, Kovri.
Upcoming Developments – Kovri
One current problem with Monero is that they don’t provide end-to-end anonymity. Unless the user is running a VPN or Tor, their IP address is still susceptible to leaks.
The developers of Monero are committed to creating a product that protects the user throughout the whole purchase journey. They started developing Kovri to achieve this.
Kovri cloaks a user’s IP address and further provides protection against network monitoring. The technology is based on Garlic Routing, which is largely viewed as an upgrade from Onion Routing. With Garlic Routing, peer’s messages are encrypted and bundled together before they’re sent over the internet, which makes it even more difficult for attackers to identify a particular user.
Kovri is currently in alpha stages, and anyone is welcome to use the application, although beware- it is not yet tailored for the technically impaired.
Once Kovri is fully implemented, it will make transactors virtually untraceable.
Litecoin Partnership
The lead developer of the Monero’s development team tweeted on January 26 about his excitement for the possible partnership with Litecoin.
Litecoin Monero Merge r
This would create the ability to do on-chain atomic swaps of LTC and XMR. Currently, traders need to first sell their coin for Ethereum or Bitcoin and THEN purchase either LTC or XMR. On-chain atomic swaps would provide a seamless way to convert LTC into XMR or viceversa. This gives easy liquidity for Monera users while also providing anonymity for Litecoin users.
Final Thoughts
Not only is Monero decentralized like Bitcoin, but they take it a step further into anonymity. The privacy properties of Monero go well beyond other coins.
Whether Monero becomes a top 5 coin or not really depends on the strength of its developers. However, considering there are over 30 and all working full-time (salaries come from donations from the Monero community) implies that it won’t likely be an issue.
Overall, Monero has a promising future ahead, and will likely be around regardless of cryptocurrency investors.
coindigo.io
Reminder for maximalist Bitcoin HODLersReminder for maximalist Bitcoin HODLers
One great reason to HODL Monero too is that Monero's codebase is 100% independent of Bitcoin's codebase
If someone finds a huge bug in bitcoins code, it could affect a lot of other coins. But since Monero is a Cryptonote coin, it would not be affected.
And while one might say that Monero is more risky because the code hasn’t been used as much, there has been a lot of time gone into researching the code and making sure it is solid. (Because for those who don’t know, cryptonote is what Monero is derived from, but it was not created by Monero developers)
you would think that by this time if there was a major flaw in btc code, it would have been found, but sometimes it just takes a long time before the vulnerability is discovered.
Also a lot of the coins that have been coming out this past year are Ethereum based tokens, so that is something different although when you take into account the DAO, Multisig wallet hack and just the whole design of Ethereum its hard to call it well tested and secure compared to cryptonote and Bitcoin.
Prediction: Monero in top 3 in 20185 Exciting Monero Developments to Look Forward to in 2018
A lot of top cryptocurrencies will roll out some major features in the coming weeks and months. In the case of Monero, a lot of exciting developments are on the horizon for 2018. Although there is no official timeline for some of these developments, certain features and integrations have been in development for several months. Below are some of the things to look forward to relating to Monero in 2018.
5. Darknet Adoption
Although this is not something most people would necessarily agree with, darknet adoption will be a major catalyst for Monero. It is evident Bitcoin or any of the other supported cryptocurrencies make no sense for darknet use. The lack of fungibility, privacy, and anonymity make them all less suited for the darknet than one would expect. Monero checks all of the right boxes in this regard. If all darknet markets implement XMR support in 2018, things will get very interesting for this currency, to say the least.
4. Multisignature Support
The adoption of Monero as a top cryptocurrency will largely hinge on its implementation of multisignature support. This matters a lot to exchanges, brokers, and other service providers. Even darknet market operators prefer multisignature solutions for Monero over normal wallets. In fact, the lack of multisig has held back XMR adoption on the darknet, but that will come to change with the next client release. With the code now merged into the main branch, it is only a matter of time until Monero multisig becomes the new normal.
3. Kovri
Depending on how one wants to look at things, Monero is either “private enough” or still needs some improvement in this regard. The Kovri project is a major development, as it introduces I2P technology to Monero. This allows all transactions and communication over the protocol to adhere to the highest standard of anonymity. It is also an alternative to Tor, which will undoubtedly shake things up quite a bit.
Kovri will be the first C++ implementation of I2P technology through user-friendly interfaces. Additionally, it will help increase Monero’s market value. Combined with RingCT – or RuffCT – technology, every transaction will have guaranteed confidentiality, privacy, and anonymity. Moreover, Kovri will have its own interface, which means you won’t need Monero to use it. This is a very interesting development people have been looking forward to for quite some time now.
2. Bulletproofs
Although we have touched upon the concept of Monero bulletproofs before, it is important to reiterate how important this development is. It will reduce transaction fees and Monero’s block size by up to 80%. This feature will be released in two stages, with the first stage implementation already living on the testnet. All of this will be provided without sacrificing privacy or anonymity, which only makes it more important to Monero.
1. Hardware Wallets
When it comes to properly storing Monero, there is no hardware option available just yet. That situation will come to change in the future, as two different implementations are currently in development. Ledger has been working on XMR support for the Nano S over the past few months. There is also the community-funded Monero hardware wallet, which will hopefully be ready at some point in 2018. It is good to see hardware wallet support finally arrive for this popular currency.
themerkle.com
XMR Broke Gann Fann Center Line; Confirmed SupportXMR has broken the downtrending center line of the previous moves Gann Fann. It attempted to break above this line several times, being denied each attempt and falling further downward. I finally broke above and has since fallen back to the center line and confirmed support, bouncing off of it. I think this shows a bullish sign for XMR for a potential %50 swing
Opportunity for XMR breakout BTC/XMR has been moving around the .02 level with several instances of resistance. After a strong move up and through, a quick turnaround brought it back down into trend where it has squeezed upwards to retest the .02 level. After a stable push through .02 and a small selling round that couldnt push it below new found support, it appears XMR is ready to make a move upwards and test some highs. Lagging line and price breaking out of the cloud range along with a bounce on the new support gives a bullish sentiment.
A proper handle is needed to unleash the Green DragonContinuing with the downwards trend after the PBoC market intervention on the Chinese exchanges at the beginning of the month and followed by the elimination of the no-fee policy by the three major exchanges in China, I think bitcoin will continue to go down to around 4750 CNY considering it's bullish tendency is at pause. Bears are in control again but not for long. We need to create a proper handle for the massive cup we had for 3 years, 1 month and 18 days. A proper handle won't be ready within one month. I expect Bitcoin to complete it's first H&S (red) towards the end of January and then dump even more, which would create the second H&S (green) to bring bulls back in control and resume the uptrend.
I expect this new uptrend to take us back to January's ATH around the middle of march (see chart) and then in the day of the spring equinox, the green dragon will be unleashed to take us to a new ATH, this time, around 13000 CNY or about 2000 USD at the time considering Trump's coming USD devaluation and China's continuing CNY devaluation in US-China's upcoming declared trade war.
In conclusion, I remain long term bullish, short term bearish until reaching 4750 CNY (750 USD) and expecting a major uptrend around the spring equinox driven by news. Very likely the proper regulation by the PBoC will be the expected Green Dragon trigger.
Of course, time will tell if this would work out this way or not, but have in mind that the handle will be much more consolidated and the uptrend much stronger if we touch the bottom a second time and make the handle three months long instead of just one.
More info about spring equinox in Chinese culture: earthsky.org
