Monero has recently seen a few tumultuous weeks of trading and looks to finally be on the back side of this event. Looks to be consolidating some and trying to find a floor. All indicators are lining up towards a nice short position in the 4h chart.
The price has resisted crossing the downward trend since the ATH a few days ago, and finally rolled over. There has been strong resistance at fib levels all the way down to here at 235, 220, 200, and 180.
I think that it will stabilize around 150, where it had a consolidation period on the way up. Ultimate candle stick lows should be somewhere around 120-130, maybe even lower. Great chance to catch the bottom and flip for a long on the dead cat bounce.
The market has not looked this decided in a while, I am excited to see how things turn out!
Currently holding a short position with entry at 178. Will keep this updated as the market moves.
The price has resisted crossing the downward trend since the ATH a few days ago, and finally rolled over. There has been strong resistance at fib levels all the way down to here at 235, 220, 200, and 180.
I think that it will stabilize around 150, where it had a consolidation period on the way up. Ultimate candle stick lows should be somewhere around 120-130, maybe even lower. Great chance to catch the bottom and flip for a long on the dead cat bounce.
The market has not looked this decided in a while, I am excited to see how things turn out!
Currently holding a short position with entry at 178. Will keep this updated as the market moves.
Trade closed manually:
Closed short at 164 (down from 178), nice 8.5% profit gain, waiting for slight rebound to ~175 then looking to re enter in another SHORT position for the next slide down. Should be chutes and ladders XMR version here soon.
Trade active:
Continuing to add to my short position at the highs around 170-172.
Still waiting for the major break to occur. Stay frosty my friends. We shall overcome!
Still waiting for the major break to occur. Stay frosty my friends. We shall overcome!
