MONERO (XMR) Update: Bearish Target $56 (-35% Loss Potential)steemCreated with Sketch.

in #bitcoin • 7 years ago

SUMMARY

My last update for Monero, four days ago, showed a broadening triangle pattern, as shown in below chart. The red line marked the probability of price hitting the lower line of the broadeing triangle. Basically, the a,b,c (red) correction is not done yet.

The below chart has an update with a horizontal a,b,c,d,e correction marking the red wave b. So, red wave c should be next and an impulse down would be expected. If this count is correct, then the lower target would be $56 or about -35% loss potential.

Bear in mind the correction could also morph into another pattern like a rounding turn, as shown in below chart. This is really the only bullish scenario I can discern.

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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**

#monero #cryptocurrency #blockchain #money
7 years ago in #bitcoin by
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     7 years ago 

    @royrodgers has voted on behalf of @minnowpond.
    If you would like to recieve upvotes from minnowponds team on all your posts, simply FOLLOW @minnowpond.

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       7 years ago 

      I'm hoping on the u-bend and getting out around $150!

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         7 years ago (edited)

        I sold all of my Monero last week. It felt great, it is not a big performer compared to my other coins. I used the proceeds to get some XZC and boy has it paid off.

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