Long
XMRBTC: Buy on a sharp spike down to 0.025
Updated
XMRBTC has been showing a "V" pattern along an uptrend and on key support levels. The next convergence between the trend line and a support is at 0.025.
Note
In about 2-3 days, this trade should be in playNote
Given that the whole market is down, I'm waiting for a full capitulation in BTCUSD before entering this trade. If that is the case and we see a bullish reversal candle in XMRUSD, I'll go long. The worst-case scenario is that XMRBTC might go lower to 0.022, which is the next level.
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.