XMR needs to push hereXMR continues to remain stuck under this very strong supply zone
A break and hold above is needed before entering a long position
Upside target outlined in the chart below
Xmrusd
BTC - Wait for signalBTC hit the edge of the resistor where there was a weak sales response. This fact points to the fact that merchants are waiting for a value of about 10k USD where we expect a stronger sales response. This does not mean that BTC turns the trend. It is very important to wait for this level and signal which BTC will offer us. If the signal is bullish will occur after correction for re-growth. Such a signal will be closing above the value of 10K USD strong bullish candle
Moner [XMRUSD] Price analysisPrice easily can go to 140$ or even higher, at the moment we consolidating in triangle pattern, and as you probably know by now this pattern could break to up and downside, there is 50/50 ratio so I am waiting for it and ready for both scenarios. Keep your eye on this dark pony :)
Monero lagging behind bitcoin: Eliott wave analysisI've been taking a look at Monero, and this coin looks interesting:
1. It didn't climb a lot since the low in December
2. It XMRUSD basically looks EXACTLY the same as BTCUSD
3. It's doing the same as bitcoin, but lagging behindt
4. It's now where bitcoin was 1-2 months ago
5. The coin itself is interesting because of fundamentals, anonymity etc
So, I have to revise my last analysis, which was based on an older idea for bitcoin.
But now that bitcoin is confirmed in ultra berserk mode, we of course also have other implications for altcoins.
So the above points, together with an Eliott wave count, let me believe that XMRUSD will see a nice rally, basically mirroring
BTCs rally, but with delay.
We currently haven't even started wave 3 yet in XMR, while BTC has done wave 3 and hit it's peak at 7500, currently waiting for wave 5 to 10k.
If nothing crazy or unforeseen happens to bitcoin, I think the likelihood for an XMR rally is high.
Of course, the really insane altcoin rallies will start in 2020+, when we'll see good old x10 and more :)
XMR Bear Cycle CompletedWelcome back!
Today I wanted to go over one of the large caps because they are the ones that lead the market.
XMR is a great long term cycle because it has proven itself with Bitcoins bear cycles previously.
I like this set up for a couple reasons...
First off, we have a very strong trend that went uber parabolic in the last cycle. This created a 1,3,5 Elliott Wave sequence,
and with the breakout of major descending resistance we have now made the first indications that this bear cycle is over.
From where were at now, I would expect us to continue higher to my target at $150.
I also noticed a pattern thats playing out compared to the last bear cycle that is almost exactly the same.
These cycles often repeat the same cycles in different forms but the resemblance is near exact.
Will history repeat itself? Only time will tell but, I am bullish.
XMR Day TradeWelcome Back!
Today I am watching XMR for a potential breakout of a bull pennant. This pattern comes after a breakout of major descending resistance which signals the end of the bear market.
Currently prices are tagging resistance of the pennant which is why I am waiting for confirmation one way or the other.
For a bull break to occur the best entry will be the retest of resistance now acting as support.
Another option I am watching is for price to reject off this resistance and fall back to trending support one last time before a break.
Either way I am bullish with how this is accumulating and will be watching for my target to be met.
Target-$82
XMRBTC(W): Why is Monero a top investment?... And Happy Birthday Monero!
Often I am asked: "I want to invest in a good crypto technology. What should I buy? I don't want to lose money on pump-and-dump. My answer: Take a look at technologies that offer a real understandable (simple) advantage. Monero is therefore a must-have for me. Why, I'll write below:
One of the biggest advantages for me in the crypto market in general and at Monero in particular is privacy. I see the "private" coins as long-term winners, especially XMR.
The private coins are not only value stores like BTC, they represent much more value due to their anonymity. I think a driver for the further growth of these coins is the increasing pressure from capital controls, currency weaknesses and global turbulences.
It is the fact: Digitalization goes deeper and deeper into our privacy. That makes alternative value storages more interesting than ever. Today, BTC can be tracked without any problems. This makes it impossible to shield assets via BTC. Monero is an alternative. Monero is programmed differently. The developers' goal is to create a payment that guarantees complete anonymity. At Monero, the development team created an entirely new blockchain. It is based on the CryptoNote protocol that makes these encryption technologies possible.
Monero focuses on highest anonymity and protection of privacy. Monero consciously focuses on the opposite of traceability and transparency. Monero is still unique in its form. The function: Sent and received public keys are bundled so that the addresses remain hidden. This makes an analysis of the corresponding blockchain almost impossible. The security depth is constantly being optimized.
Monero celebrated its fifth birthday yesterday, April 18. The first block was created on April 18, 2014.
Since then, Monero has built in many features that guarantee a high degree of security and non-traceability. For example, the hidden of the amount. And Monero does not link the account balance to users' public addresses. Dash, Zcash, GRIN and Co are more open. XMR has developed well since its introduction, both in terms of its popularity and its technical power. Monero continues to be one of the largest blockchain projects in terms of market capitalization. The XMR price is currently around USD 70. The price of XMR has recently started to rise significantly. It has risen by 51 percent in the last three months.
Announcing XMR's fifth anniversary, a Monero core team member said the project is focused to guarantee privacy. And... Privacy is a fundamental human right.
The project has continued to make technical progress lately. In the fall of 2018, Monero developers activated zero knowledge proofs in their blockchain. The development makes XMR transactions around 80 percent smaller and thus significantly cheaper. In combination with the activation of bulletproofs, the data protection functions of the blockchain are probably the most advanced in Cryptos.
Fungibility is the core of Monero's privacy. Just as Fiat notes of the same type are virtually indistinguishable, XMR coins are indistinguishable. Other currencies cannot.
XMR is faced with growing competition, as other currencies also rely on anonymity. But Monero is and remains the number one with five years of experience and advantage.
Fibo gives us the long-term goals here ...
0.236 (0.019 btc) 50%
0.382 (0.031 btc) 150%
0.5 (0.04 btc) 220%
1 (0.079 btc) 500%
1.618 (0.128 btc) 900%
Let's see what happens. Happy trading. :-)
Links:
Monero to $1k usd, followed by $10k usd? You Saw It Here First.I've made wild predictions in the past about Monero. When it was worth pennies I made estimates of it's value reaching well over $1 into the $10 range. This absolutely happened.
I then speculated that Monero could further increase from $10 to over $100 given the tremendous updates and growing community making it the best form of Money anyone has seen. This absolutely happened.
The ATH for Monero is just shy of $500 reached in late 2017. So what's next?
Currently, the bear market is coming to a close as per my observation of (btc block reward halving minus 12 months = signal of end of bear market). As prices recover and media exposure begins to ramp up, with a positive view of these markets, I expect another sharp increases for Monero.
Next up is the $1000 psychological barrier being demolished by 2021. Followed by an exponential move in BTC and the crypto market in general to unsustainable highs. For Monero, this would mean prices in excess of $5000 and as high as $10000 in 2022.
Happy trading.