XMRUSD trade ideas
MONERO: WILL HE STAY OR WILL HE GO?Monero (XMR) faces resistance around $186-$190 which was the recent high set on 10 January. We went long XMR/USD in November 2019 and are currently +224%. However, we believe that we are only getting warmed up with XMR/USD.
We have seen Signal attracting users from WhatsApp recently. We see private money out-competing surveillance money in the future. We remain bullish on Monero.
XMR/USD is 66.8% from its all time high in December 2017. This is a great opportunity to get exposure to the finest cryptocurrency in the market. Monero is private, fungible, and a Proof of Work (PoW) digital currency.
Do your own Proof of Work research!
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.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
๐ ๐ Shout-out to TradingShot's ๐ฐ top TradingView Coin donor ๐ฐ this week ==> TradingView
--------------------------------------------------------------------------------------------------------
Monero/XMR is a sleeping giant.Monero has one main purpose, to ensure privacy between users and it arguably does it better than any other cryptocurrency by offering privacy by default.
Pros:
- Atomic swaps might be released by the end of the year allowing for trust-less BTC<->XMR swaps
- Grayscale considers launching a Monero trust, if it happens they would probably be accumulating right now
- Michael Saylor mentioned in a podcast that if people want privacy they should "just use a Monero"
- Averaging around 4x the number of transactions since the last ATH in 2017-18
Cons:
- Exchanges in Australia and the UK aren't allowed to list XMR
- Possible regulatory scrutiny by other countries targeting privacy coins
- Associated with crime (some could see this as a pro)
There are many more pros and cons, which I might add in later. Targeting $420 by year's end.
Mean-reversion SHORT - XMRUSD/MoneroGreetings folks,
XMRUSD has been increasing quite sharply on the daily chart as of late.
My system has made a recommendation to short at the low of the previous bar with the TP being 182.94.
However, my system has only had 3 past trades giving us 3R returns or an expectancy of 1R with a 67% winrate.
Cheers,
PineConnector
Monero 300$Everything is in Graph. Privacy is future, they can delist what they want, Monero not gives a shit. XMR already replaced BTC in the Darknet.
Buy zones for XMR are simples :
- if price fall between 100$ to 150$, you are in the green buy zone.
- TP is 299$
More simple than that i cannot be.
Happy Tr4Ding