As XMR has a small pullback from its strong upward trend it prepares for wave 5.
The pullback was relatively small compared to the Fib levels expected (0.382) in a wave 4. It was stopped at the previous high (132) before it stabalized a bit.
On a four hour chart we can see a cup and handle pattern forming itself which could indicate just the right bullish pattern to launch XMR's wave 5. For people who want to ride wave 5, this would be the moment to buy.
- Bullish target; 195 EURO
- Bearish note; pattern could also result in bearish double top which is strong bearish.
- MACD looks still bullish and open
- RSI is slightly overbought but nothing crazy compared to last push in August.
The pullback was relatively small compared to the Fib levels expected (0.382) in a wave 4. It was stopped at the previous high (132) before it stabalized a bit.
On a four hour chart we can see a cup and handle pattern forming itself which could indicate just the right bullish pattern to launch XMR's wave 5. For people who want to ride wave 5, this would be the moment to buy.
- Bullish target; 195 EURO
- Bearish note; pattern could also result in bearish double top which is strong bearish.
- MACD looks still bullish and open
- RSI is slightly overbought but nothing crazy compared to last push in August.
Comment:
Took a bit longer then expected but XMREUR seems to hit the Fib 1.0 level for the fifth wave. Afterwards I aspect a pullback.
