Monero Also Have a very good Investment Opportunity Hi Everyone;
today we have one of the best risk to reward Investment opportunity
it is more than 165 times the risk and the chart is look very promising.
I expect breaking the previous bear market key point will clear the way to the final target
Monerosignals
XMRUSD More rise ahead or pull-back to lows?Monero (XMRUSD) has been very strong since the February 25 Double Bottom as it almost reached the early January High. In doing so, it broke above the Lower Highs trend-line of the May 07 All Time High (ATH) and the 1D MA200 (orange trend-line). It is possible that within this month, it will form a 1D Golden Cross (when the 1D MA50 (blue) crosses above the 1D MA200).
The last time the price broke above such a long-term Lower Highs trend-line and formed a 1D Golden Cross after, was in early 2019 when Monero and the whole market was starting to recover from the 2018 Bear Cycle. The difference is that in 2019 it peaked just below the 0.5 Fibonacci retracement level after forming the Golden Cross, while now it has already come very close to the 0.5 Fib without having formed the Golden Cross. The question is, are we too soon or too late on the fractal?
The RSI on the 1W time-frame seems to support that we are too soon and there is still room to rise, despite having almost reached the 0.5 Fib already. Basically it looks quite a lot like the Golden Cross of May 2020, when the market was recovering from the March COVID flash crash. In both cases, the price always tested the 1D MA50 before rising any further and that is what we are expecting to happen here before a new rally to the 0.618 Fib at $307.00.
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MONERO LONG and LEVELSMonero has a nice setup for long positions. Just check the volume and be careful around strong SR.
XMRUSD Buy the pull-back for $590.Monero is seen very effectively on the Fibonacci Channel formation but since August 2020 has been trading within a Bullish Megaphone pattern.
The peaks have matched well with the Fib levels of the Channel with the current one being at 2.5.
Every peak is on the 1.618 Fib extension from the previous bottom.
Also every peak is made on or right after the LMACD forms a Bearish Cross.
Right now the LMACD has made a Bearish Cross. Assuming the low of this phase was made on April 23 (otherwise if a new low is made you'll have to readjust the Fib and calculate the extension from that point) and since the Higher Highs trend-line of the Bullish Megaphone was reached, XMRUSD is most likely on a peak. The pull-back should bring a new Higher High at around $590.
Most recent XMRUSD ideas:
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XMRUSD Time for accumulationPattern: Bullish Megaphone on 1D.
Signal: Buy on the MA50 as the RSI got rejected while the price hit the top of the Megaphone.
Target: 400.000 which is the top of the Megaphone and just below the 2.382 Fibonacci Channel extension.
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XMRUSD Buy SignalPattern: Bullish Megaphone on 1D.
Signal: Buy as the LMACD just formed a Bullish Cross (previously a sign of an upcoming rise within the Megaphone).
Target: 260.00 (just below the 1.5 Fibonacci extension).
Most recent XMRUSD signal:
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XMRBTC has strong bullish potential on this formationThroughout the whole year, every time XMRBTC broke above both the MA50 and MA200 on the 1D time-frame, the price rose by +9.50%, +27% and +60.50%.
When the MA200 broke last, we saw the strongest rises while then the MA50 broke last we saw the +9.50%.
This time it broke the MA200 last. Can it deliver a +27% or +60.50% rise?
Previous XMR signal:
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XMRUSD Buy SignalPattern: Channel Down on 1W.
Signal: Bullish as the Lower High trend line broke. If it fails to get detached from the 1D MA200, then expect a 1 month consolidation first.
Target: 95.000.
Will Monero respect this Channel?Pattern: Channel Up on 1W.
Signal: Bullish on the 57.000 Support and the Channel's estimated Higher Low.
Target: 77.000 (the 1W Resistance level).
XMRUSD No upside confirmation yet.Monero is on a 1W Channel Down. There is no reason to be bullish as long as it trades inside this Channel. Although it seems to be supported since the December bottom it is safer to go long once this Channel breaks upwards. I will go long above 64.700 and target 90.000.
