Inside a bear kumo, XMR are trying to breakup a strong resistance that drags from the past.
In the attempt, when entering an overbought zone, the oscillators will be broken and the price will realize a retracement towards the level 0.382 or even deeper towards the 0.236 fib level and making finally a pullback to continue with a uptrend.
Apologies for the number of lines.
I will try below to clear the chart to be clearer, but i will to show the behavior with the highs and lows.
Thanks for your time.
In the attempt, when entering an overbought zone, the oscillators will be broken and the price will realize a retracement towards the level 0.382 or even deeper towards the 0.236 fib level and making finally a pullback to continue with a uptrend.
Apologies for the number of lines.
I will try below to clear the chart to be clearer, but i will to show the behavior with the highs and lows.
Thanks for your time.
Comment:
www.tradingview.com/chart/wiTU3Qnj/