In 4H TF, XMR broke the trendline with a big drop of ~ 10% on . Now it is consolidating right below this trendline.
It's expected that the drop will resume because in higer TF (2D), the volume indicator MFI has just broken its trendline. This means that selling pressure continue to increase. For this HTF view, please see the below screen-shot:
交易结束：到达止损
⋅
SL hit. The trade fails because market changes direction before FOMC meetings.
You may be right, but I would definitly be careful with shorting this. XMR was not an FTX supported coin. It's of the last truly anonymous cryptocurriencies, with new crypto regulation most definitley looming. It's price meanders off on it's own from time to time, not following BTC quite as closely as most others do. Without hitting an obvious larger time frame (4HR-1D) double or triple top formation, price may just be a continuation of it's recent price movement. Good luck with your short position.
evasivesteering
⋅
@TaderTot, Hi, Thanks very much for interesting information. As in my post update, the short was closed.
JoeChampion
⋅
It makes a lot of sense to me
zpita9301
⋅
I had a similar analysis, unfortunately didn't worked out
evasivesteering
⋅
@zpita9301, Agree man, Timing was not good for this trade.