XMRBTC trade ideas
XMR/BTC: Bottom Fishing or Treasure Hunting for MoneroXMR/BTC has a poor market structure with low volume and is just treading water right now around 0.006 BTC. Can the bulls thwart the bears at 0.006 and reverse this situation? I think so and therefore believe this to be a treasure hunt.
Monero has unique qualities and advantages over Bitcoin that people may awaken to in the not too distant future. How many people have and continue to buy bitcoin and believe that they have bought private, anonymous, digital cash? Just because it is decentralized, does not mean it is private. We believe privacy and fungibility to be currently undervalued by crypto investors and Monero is the front runner in this arena for now. There are others but Monero has first mover advantage and is private by default. Having said that, we are bullish on both Bitcoin and Monero going forward, just that the latter is better value right now.
People will eventually want to own private digital cash and not be tracked by big data corporations and the government for that matter. Long XMR/BTC from 0.006 could be a profitable move if you believe that blockchain privacy is the way forward.
XMR/BTC: 0.006 appears to be a nice area for accumulation.
XMRBTC_DailyPrice:0.006754 BTC
TP_LVL I: 0.0079 BTC
TP_LVL II: 0.0090 BTC
SL: 0.000058 BTC
Expected Return: 35 %
Risk/Reward: 2.3
Looking Bullish Here❕ Sitting At The Long Term Support Line ,High R/R ,Looking Bullish
✅ Tp 1 : 7650 (10%)
✅ Tp 2 : 8300 (21%)
✅ Tp 3 : 9200 (33%)
🔴 Stop loss zone : 6100 ~ 6050
Bullish divergence on RSI ??Just after some views on this. Bullish divergence on RSI and in oversold territory..... Going lower or going higher against BTC..?
Weekly Trendline at SupportWith the slaughter in the ratio that just happened, it's important to keep some perspective. Weekly charts still intact. Higher highs broke important resistances. Psychologically, there is still much FUD against Monero. If weekly can hold trendline and produce another higher low, this will be a huge sign for investors that Monero really has bottomed, and is poised for large gains next year vs BTC
XMRBTC must regain POCCurrently it is under the POC but has been supported twice by the gann line. Must consolidate above the POC just like it did in July otherwise it will drop to previous lows.
Good R:R long possibility XMRBTCDisclaimer: I'm a noob and this is not financial advice!
After an immensely brutal sell-off vs. BTC over the last weeks XMR is now sitting at what should be strong weekly support and trendline from the very bottom, as well as the golden pocket area from bottom-to-top fibs.
If price regains and successfully retests the weekly 50 MA at ~ 0.0078 I'd consider taking a bigger swing trade here, that can be cut close by if the weekly support and trendline is lost definitely.
Low risk, high reward if you have a few months patience.
Of course the Corn makes or breaks this right now.
Fundamentals for XMR become stronger every day, transaction count all time highs day after day, still the same huge and dedicated grassroots community.
A decent bet in my opinion.
Critical comments welcome!
XMRBTC near bottomshould reverse at the bottom. Currently oversold. BTC is pumping and XMRUSD is retracing but XMR will continue on its upward journey.
XMRBTC is inside a descending channel 🦐XMRBTC is inside a descending channel and the price had a breakout downward and lost daily support.
Now the price is testing local 4h support, IF the price will break that support and turn into resistance, According to Plancton's strategy, we can set a nice order
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
XMRBTC lost the weekly support 🦐XMRBTC lost the weekly support after the price retest 0.382 fibonacci retracement.
IF the price will lose the current daily support and flip into resistance, According to Plancton's strategy, we can set a nice order
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
💡Don't miss the great buy opportunity in XMRBTCTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.00967). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XMRBTC is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 62.
Take Profits:
TP1= @ 0.01050
TP2= @ 0.01107
TP3= @ 0.01179
TP4= @ 0.01250
TP5= @ 0.01400
SL= Break below S3
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💡Don't miss the great buy opportunity in XMRBTCTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.00967). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XMRBTC is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 62.
Take Profits:
TP1= @ 0.01050
TP2= @ 0.01107
TP3= @ 0.01179
TP4= @ 0.01250
TP5= @ 0.01400
SL= Break below S3
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
XMRBTC BreakoutSeems like XMRBTC may go up after breaking out through the previous highs. Higher lows can indicate a new trend.
