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XMR has completed bullish setup for 584% big moveHi friends hope you are well, Since Jan 2020 the Bollinger bands on month chart is getting squeezed and priceline was moving sideways indicating that the price action might have found a support here. After recent bearish move the priceline has 1st time hit the lowerbands of Bollinger bands and turning bullish now we can expect after this bounce the price action may attempt to hit the upper bands of Bollinger bands soon. Formation Of Parallel Channel: On week chart after hitting the $38.50 price the price action has found the support at $44 and since Dec 2018 the price action is consolidating here and moving sideways. In the meanwhile the candle sticks are moving up and down and formed a parallel channel and the resistance of this channel is at $121. channel is very firm as the resistance or support are not broken since Dec 2018. This time after recent bearish trend the price line has again hit the support of this channel and likely to move up. Oscillators and indicators: On week chart the moving average convergence divergence is turning bullish and RSI has also turned bullish. The stochastic is also likely to give bull cross very soon. The bullish Crab move: The recent bearish trend has helped many tokens and cryptocurrencies to complete their final bearish legs to form bullish patterns and Monero was also one of them. On 2 day chart the XMR formed a bullish crab pattern at the support of the parallel that the Monero has formed on the weekly chart. And as per Fibonacci sequence the priceline was suppose to take the bullish divergence and move up from the potential reversal zone of this bullish Crab. I also published this Crab move in my article on 17th of March 2020 and now at this time the priceline has moved up as per prediction and entered in the Fibonacci projection of A to D leg of this bullish Crab pattern. A very big bullish BAT pattern move: Now at this time I am again looking at the very big bullish BAT pattern that has been formed by the priceline of XMR on monthly chart. And we can examine that the price action is moving at the support of the potential reversal zone of this very big bullish BAT pattern. Once the priceline will be able to break out from the resistance of the parallel channel that has been formed on weekly chart then soon it will also hit the Fibonacci projection of A to D leg of bullish BAT On monthly chart as well and in this case Movero can produce more than 584% massive bullish rally.
BITFINEX:XMRUSDLong
by moon333
XMRUSD MONERO to ZERO?Wave 5 is on its way or very close to starting. Monero increasing in price on declining volume having hit the top of the channel for the third time and as typical of a wave 4 had broken the channel in both directions. Any spike higher from here will more likely fill my remaining Short ladders than scare me out of the trade. This crash will wipe out many Sh!tcoins, will any of the big boys fail with them? Monero does have targets to $1 but there are confluences at $20 and $10 which could save it.
KRAKEN:XMRUSDShort
by BrazilNutz
2
Monero $XMR predicting the crypto market price movements?So, let me share this interesting speculation based on Monero chart. Now, it's clear that crypto tokens move altogether more or less, and paint the same kind of structures, channels, breakouts, -downs and such. While inspecting different charts of alt coins and bitcoin we have seen the same sort of descending channel - in case of bitcoin, starting since $10K+ and here with Monero since $100 or so. In every chart we have seen the price break the channel floor, leading to that nasty drop with that nasty wick, and so far it has been the bottom since the problems began throughout the markets. We have also seen decently fast recovery in crypto and price have fought its way back to that lost descending channel. Only here in Monero case however, what I've seen, the price movement has already reached the upper side of that same descending channel as well. I don't know what kind of conclusions make of this tbh, either Monero is just ahead of the curve and predicting rest of the crypto markets - or it's in overall just more bullish compared to many other. However, I feel that if the price can breakout of this channel, the drop that many people have been waiting for, may not happen, at least not in such aggressive way we've been prepared to. Soon we see.
XLong
by paskalien
XMR/BTC TA Update (retest swing low?)XMR/BTC XMR is almost back to the mean or previous support where we had a strong rally up to 9000 sats area. XMR is currently formulating a potential bullish reversal pattern as the price approaches near the strong level of buy zone. The market is still uncertain about the future so if any bad news will appear online, XMR could still drop another 10% to resting swing low at 6000 sats area. I'm still not interested to enter the market as of now, but I'm already looking at low-risk high reward altcoins today.
XShort
by PolarHusk
XMRUSD forming bullish Crab for upto 587% bullish moveHi Folks hope you are well, this bearish trend is helping many tokens and cryptocurrencies to complete their finals bearish legs to form bullish patterns and Monero (XMR) is also one of them. On 2 day chart the XMR has formed bullish Crab pattern, even though the price action has hit the spike in PRZ level and pulled back but I am expecting that due to this bearish trend it will give us another change to catch it from the potential reversal zone. Let’s dig this pattern deeper to check how perfect this pattern is formed: After initial leg (X to A) the A to B leg is retraced between 0.328 to 0.618 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B Fibonacci projection area and last leg (C to D) is retraced between 1.27 to 161.8 Fibonacci. Buying And Sell Targets: The buying and sell targets according to harmonic Crab pattern should be: Buy between: $29.819 to $11.431 Sell between: $44.060 to $78.554 So this trade has up to 587% big profit possibility. Stop Loss: The potential reversal zone area can be used as stop loss in case of complete candle stick closes below this level. Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own research before any investment.
BITFINEX:XMRUSDLong
by moon333