MONERO (XMR) Update: Head & Shoulders...Top or Bottom?
Trying to foresee a probable pattern to go with the EW counts.
NOTE: The caveat to my bullish posts is that BTC topping needs to be watched closely!
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
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.
I really like your content. But I have just a little request: Could you explain your assumptions a bit more thoroughly, so the ones with less knowledge can understand what you mean too? Thanks and keep up the work!
You can look up Head and shoulders on Investopedia ;)
Looks like that's what we are headed to!
If you take Volume into account, I think you are spot on!
That baby is primed and ready for takeoff in the next day or so.
Nice one
nice
I'm in love in a post of you :)
Agree with btc dependency. Even with strong btc monero holding up fine. The jump wud be when btc starts going down. How will monero price reflect if btc falls to 2500 hypothetically?
We're all going to find out together. I believe there will be a mass Exodus into other coins, but only briefly, then everyone will lose their gall and pull out.....just what I think. I don't think we're ready to make another child yet, so we pull out and wait for the next cycle. Then I think people outside of the crypto world will take notice again, and it will be known that profits are to be had at that time. I believe that is when secondary coins will be fertilized and really bloom into the new market to compete with the all mighty first son, BITCOIN!!!!!
"The caveat to my bullish posts is that BTC topping needs to be watched closely!"
So BTC needs to go down for XMR to go up?
That's not what that means. It is warning that all BULL calls could be negated if BTC takes a plunge, which is expected sometime soon, check the BTC charts and analysis by @haejin for more info on that.
Have an exit strategy ready, pool your cash together and wait for the bottom to start buying back in.
That's how I read it too. ie. BTC's drop may cause uncertainty across all alt markets.
No, what I meant is that if BTC starts crashing, then everything will also and most likely negate my bullish calls on XMR and others.
Why?
Your opinion on the current status? We reached the H&S right?