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XMRBTC trade ideas

Hello Monero - Long Bullish Gentlemen, every time we saw MA200, MA100, MA50 on a top-bottom sequence forming over the chart, it has produced a strong bullish move; it happened before in Jan/Feb ’15, Jan/Feb ’16 and now it’s happening again. When we look back to Jan/Feb ’16 MA200, MA100 & MA50 we see a very similar scenario. The chart starts ascending breaking both MA50 & MA100 till it hits back when meeting MA200, onwards while its descending both the MA50 and the MA100 form a crossing support giving a stronger attempt to break the MA200. Targets are: 0.0194 0.0214 0.0253 0.0326 -- small request: Like the chart to receive updates and provide me with insights as i don't usually make Monero charts :) Good luck with your trades
Long
by yhal
XMRBTC 4HRzooming in to the 4HR OHLC chart we can see some more detail in the swing high. Left circle is resistance, the price point where the last attempt to break out of the beartrend failed. The right circle shows what we call the break. Observed a lot in breakups like these, there is a moment of pause in the swing high, usually represented by a few candles closing and opening close to each other as price trades sideways for a short bit before moving up throught the level. The same area is supporting the price when it comes back down to test support, this is what we call resistance becoming support. Officially the elephant trade has already happened for this swing up as we already had a nice retracement back to support and a good bounce from our buy levels. This is why I am already long, I just took half profit at target to secure some profits. Should you still want a long position you can still use these levels with a stop just below the 0.786 fib. I would recommend trying to scale into a position between the 0.50 and the 0.618 fib levels. Safest option is to wait for the next legup and buy the dip on support again. Stay tuned.
by Coinstreet
1
XMRBTC NEW MARKETCYCLEThe Daily is looking good on XMRBTC, after months of decline all the way back to the 0.883 retracement level ,which we consider a completion of a market cycle, we observe a nice swing high back above the 55 Moving Average. There is still a lack of volume compared to the previous kickoff observed last November which makes me think we could make a really big move up should the volume pick up here. Even tho I am already Long (4HR Elephant Wave), I do expect some swings to come in, in a ranging pattern before breaking up. See next chart for details
Long
by Coinstreet
Monero Giving Us Some Reasons to Feel Bullish Foreword Given Monero’s bullish price action as of late, it has received a slew of attention around the crypto community for its stellar performance. Therefore, we’re going to go ahead and cover the coin again to see what’s happened since we last took a look at it. Monero Price Analysis The chart above displays the XMR/BTC pairing on the H4. The second panel shows the Zero_n0ncense BoP RSI Xtreme (unreleased). This indicator takes the Balance of Power and shifts it to an RSI scale in a smoothed manner while infusing a couple of additional elements to dictate signals of impending reversal. The purpose of this indicator is to allow the trader to anticipate a reversal in the price as early as possible. As we can see in the picture above, the BoP RSI Xtreme was effective in doing just that. From this along with past data, we can validate that this indicator is valid. We’ll keep that in our backpocket when assessing additional XMR charts on different time frames and against the USD/USDT pairing. Monero On the Daily (XMR / BTC ) What should be immediately apparent to those that are looking at the chart for the first time is that the uptrend that’s been in effect since late August has held true. If the price of Monero holds on the daily, then this would be the third time that the uptrend has been tested successfully without a throwback in the price. The transparent green boxes in the picture above symbolize the three times that this uptrend line has been tested. According to modern trading theory, the third time’s the charm (i.e., if a line is tested more than three times, it can be considered ‘valid’; only two times is iffy). This is Coming Off the Double Bottom On the Daily (Significant) What’s even more important to remember than the ‘target’ that’s established by the double-bottom pattern is the fact that it most often indicates that there is a trend reversal of some sort that has occurred. Reversal does not mean trend break. Thus, a trend reversal from a downtrend = uptrend. And indeed, the uptrend did begin on the second dip of the ‘W’. Looking at the Potential Future Price Action For Monero So, the takeaway here is that the price is pretty firmly nestled with the uptrend serving as a reliable support (at this point) on the daily with an additional support point that exists right below the current price. Exponential Moving Averages On the chart above, we can see the EMA-100 (blue line) and the EMA-200 (purple line). The current value of both exponential moving averages are marked with a dotted dash line. From our studies in EMAs, we know that when the price is above the EMA, it serves as support, when it is below, the EMAs serve as resistance points. Thus, the two EMAs that you can see above are resistance points. EMA-100 (daily) = .017899 EMA-200 (daily) = .019673 Here is the takeaway from the three EMA indicators that you see in the chart above: 1. EMA 12 > EMA 26 > EMA 50 = positive; Shows there’s been some subtantive bullish momentum. 2. For Heikin Ashi, the EMA-12 appears to be holding. If it continues to hold, then breaking through the overhead support points that have been established by the EMA-100 and EMA-200 should not be difficult. The support points (per EMA) on the chart are as follows: EMA-50 = .016823 EMA-26 = .016890 EMA-12 = .017365 The price, at the time of writing is sitting at .017667 To reiterate, the EMA-50 tends to be the most reliable (in crypto at least), when it comes to ‘standing its ground’ as a resistance/support point. This bodes well for Monero bulls. Relative Strength Index (14) In the above picture, you’ll spot the RSI(14) for the daily chart. The reason why there are green and red colors are because this is a specialized RSI by the author of the article (like the other one), that is designed to render buy and sell signals. The indicator is currently unreleased (will be avaialable soon). As we can see on the chart above, the RSI(14) has shown stepped improvement and is not currently overbought on the daily. The trendline is placed in the photo to help illustrate the trend of the RSI in general. Moving Average Convergence Divergence (MACD) While it seems like investors should be wary of the MACD indicator’s reading above (especially since it looks like it just flashed a preliminary sell signal), it should also be noted that there was not a cross in the MACD (that’s the sell/buy signal confirmation). Thus, the trend (uptrend) is still technically confirmed on the daily. The MACD mostly reflects the price action anyway, from the author’s standpoint. The MACD would more than likely signal a sell if there were sideways movement for another day or so, which would be indicative of a technical ‘break’ uptrend that the price is trading against, which would mean that the support point we plotted that’s directly below where the price is now would become the next target. Conclusion In Conclusion, there are a fair amount of reasons for why one should be very bullish for Monero currently. 1. We’re reviewing the XMR / BTC pairing and not the XMR /USD(T) pairing. This is important because our earlier prediction with Bitcoin anticipated another rise on the price of Bitcoin. Therefore, the price of Monero (USD-wise), may accelerate even further. This opens up the trading strategy of investing in a long position on Monero to enhance one’s fiat profit gains, then consolidating the gains by exiting the position then entering a position in Bitcoin after its next consolidation phase or until another coin is found that shows prolonged appreciation against the price of Bitcoin. 2. The majority of the signals and patterns that we identified on the chart appear to be largely bullish in nature. This is yet another good sign. 3. The sentiment toward Monero has been positive in general. This is something that’s underrated and often overlooked, but it can become a great catalyst for the price action of certain assets/currencies. R/R Recommendation: (Please note, this isn’t financial advice; any trades that you make are your own responsibility)
Long
by librehash
1
15 sept -> Early signs of a big drop for XMR?!So on the 4 hour chart you see that the price is at an area of sellers, it is near a resistance zone. The price can still move inside this resistance zone for a little bit, but the most common rule you in trading is: selling near resistance and buying near support. There are also extra indicators that is telling us that the price may bounce back down from this resistance area. 1. The volume is making lower highs 2. The real bodies of the candlestick are getting smaller and smaller But the question is of course how far is it going to drop? Well if the price is going to drop on the 4 hour chart, then it means that a double top is going to form on the daily chart. And if this pattern is completed, then we can expect a pretty big drop. Of course it is smart to take out some profits, because we don’t know for sure if the price is going to complete the double top pattern on the daily chart. - So for entry, you have to decide for yourself when to step in. Try to step in if you are fine with the risk/reward ratio. - For stop loss I would recommend to put a stop at: 0.019276 - For profit targets • I would take a small amount at 0.017535, cause this area would cause a little speed bump for the price that is going down • I would take a decent amount at the support zone, which is between 0.015843 and 0.015515 • If the price is going below that support zone, which means that the double top pattern is completed, then I would use a trail stop, either manually or automatic.
Short
by RB-30
There is a possibility for the beginning of an uptrend in XMRBTCTechnical analysis: . MONERO/BITCOIN is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 62. . The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend is increased. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.0153 to 0.0141). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (0.0153) Ending of entry zone (0.0141) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 0.0167 TP2= @ 0.0180 TP3= @ 0.0191 TP4= @ 0.0200 TP5= @ 0.0211 TP6= @ 0.0220 TP7= @ 0.0232 TP8= @ 0.0249 TP9= @ 0.0262 TP10= @ 0.0273 TP11= @ 0.0304 TP12= @ 0.0320 TP13= Free
Long
by ForecastCity
There is a possibility for the beginning of an uptrend in XMRBTCTechnical analysis: . MONERO/BITCOIN is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 62. . The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend is increased. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.0153 to 0.0141). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (0.0153) Ending of entry zone (0.0141) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 0.0167 TP2= @ 0.0180 TP3= @ 0.0191 TP4= @ 0.0200 TP5= @ 0.0211 TP6= @ 0.0220 TP7= @ 0.0232 TP8= @ 0.0249 TP9= @ 0.0262 TP10= @ 0.0273 TP11= @ 0.0304 TP12= @ 0.0320 TP13= Free
Long
by ForecastCity