btc_joe
Long

XMR/BTC big wave 5 on the way?

POLONIEX:XMRBTC   Monero / Bitcoin
4711 17 33
Over a year consolidating in an what I would say is a an abcde triangle for wave 4...hmmm...big wave 5 on the way?
Kommentar: Hoping to see a bullish golden cross on the daily chart within the next week or so. Things should really get going after that.
Kommentar: 1h squeeze?
Kommentar: Aaaand there's the golden cross!
Kommentar: How i'm looking at the count right now (4h chart)...I think we either just finished the 2nd wave of 5 and are about to start the 1st wave up of a big third wave....or we have already started the 1st wave up of a big third wave. Its very confusing I know...if you don't get it just go with it for now : )
Kommentar: Think this makes the most sense
Kommentar: If this is correct we are preparing for a BIG move up : )
Kommentar: Yep 1-2 1-2 1-2 should get a 3-4-5 3-4-5 3-4-5
Kommentar:
Kommentar: Revised count (wave 2 took longer in all the crypto carnage)
Kommentar: Perhaps one more dip here before lift off?
Kommentar: Could that be it?
Kommentar: Pop! When we break the dotted trendline this should get going...
Kommentar: As I pointed out on twitter...1d bbands coming in (and 3d as well)
Kommentar: breaking this level now...looks like we are going to .026, probably .023 before higher
Kommentar: If the 50 ma (around .026) does not hold (decent chance) then we should go to the green box (the bottom of which is also the 50 MA on the weekly chart)
Kommentar: Taking into account ugly candles that are about to close on the daily/3d most likely scenario in my mind is we will reach the green box (50 day ma likely will not hold).
Kommentar: Also this looks like an expanded flat correction to me:
Kommentar: Hmmmm some looks like a bounce is coming...could be all, but what scares me is this so keep it in mind:
Kommentar: Wow great 4h candle. Decent chance we have seen the worst, but until we get back above wave 1 still a chance at new lows (we never touched the 200 MA on the daily)
Kommentar: Bearish divergence on 4h stoch rsi...hmmm could be time for that next leg down if the daily candle gets rekt
Kommentar: Hmmm that could be all the down we get for now...something to consider though is that was all wave 3. Until we get back above .029 or so be ready for another leg down. Gluck!
Kommentar: Looks like bounce complete and we're ready for last leg down:
Kommentar: daily on the left 4h on the right:
Kommentar: actually its the *6h chart on the left sorry
Kommentar:
Kommentar: Finishing up wave 4 of c?
Kommentar: 12h chart...looks like a clear bear flag to me which would give even more confirmation to my wave 4 count if we break down here. Initially my targets were int he low .02xxs as mentioned and shown, but considering the length of the pole we now have a lower target (shown with green box). This area is a huge confluence of support... the .786 fib/ascending triangle trendline/1.272/382 fib extensions of the last leg up.
Kommentar: hmmm maybe i was wrong. If we start closing candles above .03 we have probably seen the worst.
Kommentar: I think its safe to say we have seen the worst, while it could just go straight to the moon more likely we'll get real nice pull back either soon or around ATH's since things are a bit overextended. Just something to be aware of. Maybe it will be once bitcoin gets going and XMR meets resistance in the low $300s? We'll see. Nonetheless the big picture is still fully in tact, big potential here.
Kommentar: Looks like the correction has begun…if really is first wave up this can correct as far as 50-78% and still be valid. 1h chart:
hmmmm
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btc_joe the_hitman
@the_hitman, yes please : )
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Lol too much. I could get the same result in under 5 min no indicators just reading the chart highs month to month, but at least you understand its real direction.
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btc_joe DigitalData
@DigitalData, good luck with that.
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huge accumulation going on over at poloniex right now for xmr/btc!
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Great chart
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@Ero23, thanks! Let's make it come to fruition : )
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Hello @btc_joe ! Any updetes for this trade? :) It is actual for long term trade? Thank you!
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@kwarty, Not much to say...price has been gradually moving up...just getting started IMO ; )
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kwarty btc_joe
@btc_joe, It is interesting to be in this trade due to N.Korean government, universities are mining XMR)) Thank you)))
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