Bitcoin/Dollar is incredibly strong, but Monero is showing strength against Bitcoin , when most coins are weak against BTC right now.
Currently it has bounced off support and is trending upwards in a nice channel.
If you check out XMRs , then you see that it recently broke out over all time highs set back in July. It came back to that level around .25 and bounced (as well as off of 200 moving average), Monero is poised to go nuts, especially once Bitcoin reaches some resistance. I expect this to really explode.
Entering a position here and keeping an eye on this hurricane!
!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
Sign up to TradingView charts:
Sign up for TastyWorks - The Broker of the Future: