Time to look more closely at XMR

If you are here for quite some time already, you remember how we predicted the decline of XMR from the last top. Then we left Monero to go through the correction. The long-term picture, however, was quite bullish and we even tried to catch the bottom once (failed attempt).

Now it is time to look into the XMR again..

And this is why:xmrbtcPure Elliott Waves. We had 5 ways up on a way to the last all time high (ATH). And (as the author believes) we had recently 5 waves up on smaller scale too.

Let’s see the smaller scale in details:xmrbtcmidterm5 waves up, nice correction down. Please notice, the correction ended at exactly 0.618 of the 5 waves up. The only small problem – the rise thereafter isn’t that clear. It could be part of the extended move up or it can still be part of the correction to these 5 waves.

The author personally would like to see one more drop to little bit below 0.008. Will see if it happens.

But, generally, based on the long-term picture, XMR looks bullish.

ETH is also Ok, but we will come to it in the next update.

The Elliott Wave Principle describes the behaviour of the financial markets. This Principle is build on the mass psychology swings from pessimism to optimism and back in a natural sequence. When these swings happen, the specific Elliott wave patterns in price movements are created and become visible. Each pattern has implications regarding the position of the market within its overall progression, past, present and future.
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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

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