Long
XMR/BTC possible re-entry
The setup: A possible reentry has showed itself for XMR. For detailed analysis please see previous XMR breakdown
After closing our position due to uncertainty, XMR downtrend has reversed on the .236 and rallied above our previous target 1 again. Currently it is in falling wedge(Bullish). We look for reversal and breakout of the wedge around the .382 reversal fib. The market is likely to retest the fib and we look here for it to continue uptrend. The fact that we have maintained the position above .382 for 3 days is another bullish sign.
We look to place order at .0187 - .183 with 5% of our total balance.
Stop is placed at .016656
Target 1 = .0228 (previous target 2)
Target 2 = .0260
Target 3 = .03
After closing our position due to uncertainty, XMR downtrend has reversed on the .236 and rallied above our previous target 1 again. Currently it is in falling wedge(Bullish). We look for reversal and breakout of the wedge around the .382 reversal fib. The market is likely to retest the fib and we look here for it to continue uptrend. The fact that we have maintained the position above .382 for 3 days is another bullish sign.
We look to place order at .0187 - .183 with 5% of our total balance.
Stop is placed at .016656
Target 1 = .0228 (previous target 2)
Target 2 = .0260
Target 3 = .03
Trade active
Trade closed manually
Note
closed at 0.01752
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.