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Xmr-btc

Monero to test long-term support level?We had previously expected XMR to make a significant move upwards due to: (1.) BTC pulling back; (2.) XMR wallet on Jaxx, release scheduled for 21st Nov www.reddit.com However, (1.) Due, probably in large part, to real world economic factors such as Yuan devaluation, Indian demonetisation and a run to an alternative 'safe haven' while gold and silver turn bearish. BTC is looking strong again and is continuing it's climb up and attempting to punch through resistance around $760. (2.) Jaxx have posted a progress update which suggests that the planned release of their XMR wallet on the Jaxx platform may be put off till an indefinite date www.reddit.com (3.) Head & Shoulders pattern suggests a move down. (4.) Bearish flag suggests a move down. For these reasons, we can expect XMR to continue a bearish decline until interest is rekindled by the scheduled hard fork on Jan 5th.
Short
by CryptoCoinNomad
2
XMR shorting op.Hey guys, First time posting on TV, so bear with me =) Figured I'd share this good, slightly obvious short-spot on xmr/btc. Technically it's interesting as there is quite some resistance in the 115 area, whilst hardly any support in the 100-110. A double top here would likely mean re-testing 65-75 range, possibly even the local low (depending on btc's movement). As the entry is around 108-112, and the s/l around 115, it's seems a very solid +EV move to me. Downside of around 5%, whilst a potential upside of around 35%. 7/8 to break even. Since XMR is tightly inversely correlated to BTC, I guess it's fair to say that this is good value for money. A break upwards in btc is almost guarenteed to push XMR down towards target area. BTC's current triangle is closing on Sunday Nov 27th, so the trade would need to be entered rather quickly.
Short
by Sebastiaan-
4
XMR SHORT - Time to turn the corner!Monero has recently seen a few tumultuous weeks of trading and looks to finally be on the back side of this event. Looks to be consolidating some and trying to find a floor. All indicators are lining up towards a nice short position in the 4h chart. The price has resisted crossing the downward trend since the ATH a few days ago, and finally rolled over. There has been strong resistance at fib levels all the way down to here at 235, 220, 200, and 180. I think that it will stabilize around 150 , where it had a consolidation period on the way up. Ultimate candle stick lows should be somewhere around 120-130 , maybe even lower. Great chance to catch the bottom and flip for a long on the dead cat bounce. The market has not looked this decided in a while, I am excited to see how things turn out! Currently holding a short position with entry at 178. Will keep this updated as the market moves.
Short
by Jorgenberries