Monero (XMR:BTC) Study

POLONIEX:XMRBTC   Monero / Bitcoin
BTC has returned with support above $700 which will have pressure on XMR price. This could slow down the time it takes to re-attempt or exceed previous all time highs. If pressure is maintained on XMR we could expect a slow and steady climb until Jan 17th's hard fork.


Jaxx are currently targeting 21st Nov as the date that XMR is added to their multi-currency GUI wallet platform. History shows that this is likely to have potential for a rapid price rise.

Currently waiting to see at which point XMR breaks out of the channel its been in since end of Oct - beginning of Nov.
Order storniert: Head and Shoulders pattern developing along with continued bullish outlook for BTC suggests that XMR will be more likely heading downwards in the short term.

These opinions shouldn't be considered as trading advice. Always conduct your own research before making a trade. And only invest what you can afford to lose. Only the whales know which way the waves will flow... and sometimes even they get it wrong!
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