Monero/USD Weekly Falling Wedge break out today?
If we close this week above the Falling Wedge resistance line, we might see a trend reversal for XMRUSD, and the target of our Falling Wedge breakout pattern would be taking the privacy focused cryptocurrency back to the lower 400s. The hammer candle that formed 2 weeks ago touched the $80 support area (blue box), that was formed in September/October 2017. As we place our stop loss a little below this support area, we get a nice Reward to Risk ratio of about 6 : 1.
Other TA that supports this theory:
Other TA that supports this theory:
- Stochastic RSI has been ranging in oversold territories since May, but is now climbing up
- This week's volume is the biggest since March, and we see this not only on Kraken, but on all major exchanges.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.