XMR/BTC is looking ready for more correction after huge bull run starting in beginning of November.
Reasons why I am short:
We are only 1-2 weeks into a reversal that is following 4 month bull run.
Recent all time high
1D shows price sliced through ichimoku cloud, which is almost always an excellent sign of trend reversal
Low RSI
Broke 200D EMA
1W chart looks like XMR will follow the pattern from previous spikes
How to play this:
We may see a bounce for a few days where price may re-enter cloud. Short here for maximum profit
Otherwise, place short, with low margin, and watch as money accumulates in your margin account ;)
Targets:
0.02 BTC is next stop
I will not pretend I know what will happen after 0.02, look out for updates on this idea
do your own research these are only my honest opinions. If it gives you any comfort, I do not post idea unless it is a trade I am engaged in
Reasons why I am short:
We are only 1-2 weeks into a reversal that is following 4 month bull run.
Recent all time high
1D shows price sliced through ichimoku cloud, which is almost always an excellent sign of trend reversal
Low RSI
Broke 200D EMA
1W chart looks like XMR will follow the pattern from previous spikes
How to play this:
We may see a bounce for a few days where price may re-enter cloud. Short here for maximum profit
Otherwise, place short, with low margin, and watch as money accumulates in your margin account ;)
Targets:
0.02 BTC is next stop
I will not pretend I know what will happen after 0.02, look out for updates on this idea
do your own research these are only my honest opinions. If it gives you any comfort, I do not post idea unless it is a trade I am engaged in