I've felt that XMR's bottom has been near. Breaking down the chart to the last few days since breaking below the neckline of the H&S formation we can see that Monero is starting to bottom out. It is at this point now that I project the bottom is in, and that a great buying opporunity is to be had. XMR has made a nearly 100% retrace (But below 99.9%) from the ABC wave on the larger scale that also let's us know that we can take a position (Perhaps 50% the normal) with relative comfort. If XMR fails to start consolidating for the next impulse here it will fall below .02377 BTC which will be our stop for this trade, and we will look for reentry upon the conclusion of further correction.
Yorum:
The bottom was indeed in. Looking bullish. Primary Wave 3 target is .0377 BTC