monero/usdt long term trade
Updated
Correction is over. Trend must go on, and on, and on
I see a clear bottom for monero in the 0.006 range, where the first wave of the last bull run bottomed.
Monero has clearly double bottomoed in this area, and as predictable it is going upwards.
MAIN THREAT:
BTC running too quick. I do know btc trend is upwards but we have already seen huge alt-pumps while btc in a strong uptred (ie. eth reaching 20$ at @0.028BTC while btc was living a strong bull trend caused by halving hype)
MAIN FUNDAMENTAL SUPPORT:
RingCT and GUI wallet are at last about to be deployed.
Privacy and fungibiliyy are really needed. Coinbase keeps blocking bitcoin users accounts due to fungibility problems np.reddit.com/r/RCSources/comments/5bp5ae/how_bad_did_i_mess_up/
Zcash proved to be a perfect set up so some miners made a quick buck, this together with the "trusted" set-up involving so little people gives xmr room to grow without worrying about this blockchain.
I see a clear bottom for monero in the 0.006 range, where the first wave of the last bull run bottomed.
Monero has clearly double bottomoed in this area, and as predictable it is going upwards.
MAIN THREAT:
BTC running too quick. I do know btc trend is upwards but we have already seen huge alt-pumps while btc in a strong uptred (ie. eth reaching 20$ at @0.028BTC while btc was living a strong bull trend caused by halving hype)
MAIN FUNDAMENTAL SUPPORT:
RingCT and GUI wallet are at last about to be deployed.
Privacy and fungibiliyy are really needed. Coinbase keeps blocking bitcoin users accounts due to fungibility problems np.reddit.com/r/RCSources/comments/5bp5ae/how_bad_did_i_mess_up/
Zcash proved to be a perfect set up so some miners made a quick buck, this together with the "trusted" set-up involving so little people gives xmr room to grow without worrying about this blockchain.
Note
We are currently at resistance level going through 10 usd wont be easy, but feasible.Monero has proven strenght and resilience by standing over BTC bull trend.
Monero whales are not willing to dump so easily their monero to cashout their btc profits.
I feel confident new highs usd-wise will be reached anytime in first quarter of 2017, probably alongside with btc highs.
Note
Resistance 1 destroyed, should be tested as a support though.Target 1: 12.65 USDT - REACHED -- Closed 25% of position
Note
Testing resistance 2.Even though targets are not explicitily marked i have 3 targets for my monero usd NON margin trade.
target 1: 12.65 - REACHED [25% position]
target 2: 22.50 - [40% of position]
target 3: 55.00 - [35% of position]
This is a long-term bagholding.
Expected total profit: 333%
Expected time-frame: within 2017
Note
I warned you: new usd-wise highes for Monero in first quarter of 2017 as bitcoin keeps pumping :DWe'll see target 2, 22,5 usd, sooner than i could expect.
Now just surpassed ATH resistance and trading over 16.5 usd.
Note
Trend line retested. Time to re load leverageNote
And target 2 reached first quarter of 2017, as predicted.40% position closed.
Note
About to reach target 3 :) beautifulTrade closed: target reached
And here we are. 8 months later we have reachen all our targets in the expected timeframe (within 2017). A whoping total 350% net profit or 450% ROI.
Thank you monero. And this is the chart looking LESS bubblish of all the crypto charts, so imo, the healthiest bull trend.
Still bag holding ~1000 monero looking for a long term target of 200 bucks a pop.
Note
That 200 usd crazy target back then was easily doubled, reaching a max price over 400 usd
Related publications
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.