CryptoCoinNomad

Monero (XMR:BTC) Study

Long
CryptoCoinNomad Updated   
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.

However...

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 cancelled:
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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.