First off, Monero is a really interesting currency with lots of use around it.
Lots of darknet use at least, and many consider it the most anonymous currency. With Dash & Zcash as it competitiors.
Personally I like the coin and the progress that the currency have made over the last year, both on the technical front and the additions on darknet markets such as Alphabay.
But this time I'll short it as I see it going down over the next weeks.
Setting a tight stop loss though, because I don't have to much confidence in shorting a coin under the market conditions we have today with the crypto hype.
Sell (0.0178)
Take Profit (50% - 0.014)
Buy Area (0.0121)
Stop Loss (0.0188)
Fundamental
Today this was published.
It's a research paper from guys that now what they are doing.
And they have found some problems in moneros code that allow for tracing some of the transactions.
The lead guy on the paper is affiliated with Zcash, and from my understanding much of the report is based on old code that is not relevant today. The reason for this report is most likely to hurt Monero and an attempt to get users over to Zcash.
However, the report is very real and investors/traders are easily scared. That's why I'm looking to short this down to the trendline where I will be closing my shorts and opening longs.
Lots of darknet use at least, and many consider it the most anonymous currency. With Dash & Zcash as it competitiors.
Personally I like the coin and the progress that the currency have made over the last year, both on the technical front and the additions on darknet markets such as Alphabay.
But this time I'll short it as I see it going down over the next weeks.
Setting a tight stop loss though, because I don't have to much confidence in shorting a coin under the market conditions we have today with the crypto hype.
Sell (0.0178)
Take Profit (50% - 0.014)
Buy Area (0.0121)
Stop Loss (0.0188)
Fundamental
Today this was published.
It's a research paper from guys that now what they are doing.
And they have found some problems in moneros code that allow for tracing some of the transactions.
The lead guy on the paper is affiliated with Zcash, and from my understanding much of the report is based on old code that is not relevant today. The reason for this report is most likely to hurt Monero and an attempt to get users over to Zcash.
However, the report is very real and investors/traders are easily scared. That's why I'm looking to short this down to the trendline where I will be closing my shorts and opening longs.
Note
Watch out for a break below 0.017. That's a though support zone.Should go down fast if that breaks.
Note
17 broke and XMR went quickly down to the 16 level.Sadly this is also a pretty strong support level. However, if 16 is broken, my 14 take profit level is a guarantee in my eyes.
In the last days there have been more focus on the linkability of XMR transactions.
It may be more serious then first anticipated.
coindesk.com/monero-link-transactions-debate/
Note
When every altcoin goes up, XMR is gonna follow along.Too bad it didnt hit my take profit area before it started. But oh well, every other position I have atm is long alts so very happy with my trades.
We are still under the stop loss, and I see no point in doing anything with this position.
Either it goes through stop loss or altcoins start to dump and XMR along with it.
Note
Why did it have to spike like that? Oh well, took a little loss on this position. But that's fine, it's a 6% loss and I am getting that back on all my longs by a huge margin :)POSITION CLOSED
(0.0188 Stop Loss | -6% Loss)
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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.
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.