Monero / BitcoinShort
Monero VS Bitcoin Downside Risk
Aktualisiert
Following the previous idea on Monero VS Bitcoin, the price reached the upside target at 76.4% Fibonacci retracement level. Although XMR/BTC went higher than 0.03, it failed to show a clean break above the resistance and formed a double top at btc 0.032, accompanied with a bearish divergence on the RSI oscillator.
Since the btc 0.032 high was reached, Monero has been moving slights downwards within the descending channel. On 17th of February, it rejected the upper trendline of the descending channel for the second time and once again formed a bearish divergence. This could result in the beginning of a corrective move down towards one of the Fibonacci support levels. The nearest support is at btc 0.026, that is 61.8% retracement. Break below could push price lower either towards btc 0.023 or 0.02 where the key support is based.
On the upside, only break and close above the key resistance at btc 0.032 should confirm the bullish scenario sending Monero to a new all-time high against the Bitcoin.
Since the btc 0.032 high was reached, Monero has been moving slights downwards within the descending channel. On 17th of February, it rejected the upper trendline of the descending channel for the second time and once again formed a bearish divergence. This could result in the beginning of a corrective move down towards one of the Fibonacci support levels. The nearest support is at btc 0.026, that is 61.8% retracement. Break below could push price lower either towards btc 0.023 or 0.02 where the key support is based.
On the upside, only break and close above the key resistance at btc 0.032 should confirm the bullish scenario sending Monero to a new all-time high against the Bitcoin.
Anmerkung
Monero rejected the supportAnmerkung
Monero continues to trade within the range, waiting for the breakout...Anmerkung
Monero breaking above the resistanceAnmerkung
Monero at the support
📱 Telegram: t.me/Tradexcel
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.