XMR short idea
Aggiornato
To trade alt-coins, you have to
1) Predict Bitcoin- I believe Bitcoin will be rejected at $7400-7800 then trade down to $5800/5400
2) Look at the fundamentals- Kovri Alpha release might create an XMR reversal, but probably won't be released until EOY forum.getmonero.org/9/work-in-progress/86967/anonimal-s-kovri-full-time-development-funding-thread
3) Technical indicators on both USD and BTC charts: XMR is forming a bear flag on the downtrending USD chart, and a triangle (could break either way) on the BTC chart
4) Environment: Dash, ZCash, and Verge are Monero's biggest competition, and they've been doing well. Dash has been gaining traction in Venezuela since the Boliver is F*cked and people seem pissed about the Petro. ZCash might get added to Coinbase, it's already on Gemini, and you can use it to buy some stuff like VPN's. Verge keeps getting odd partnerships despite its sh*t security.
5) Sentiment: I don't visit Telegram as often as I should, but I don't hear a lot of people talking about Monero right now. 4chan has been shilling Monero for as long as I've been in crypto.
6) Experts - Well, this top rated comment analysis says short Monero
7) Insider info: Unfortunately I don't belong to any elite pump and dump groups
8) Luck
I'm thinking that when Bitcoin touches 7400/7600/7800, Monero will reach ~115, and this would be a good opportunity to short.
price: 113.00
target: 62.82
stop: 129.74
risk/reward: 3:1
-M@
BTC: 1K8U5Weva7MZHpxvNDpJGhzwR1xrYDajga
1) Predict Bitcoin- I believe Bitcoin will be rejected at $7400-7800 then trade down to $5800/5400
2) Look at the fundamentals- Kovri Alpha release might create an XMR reversal, but probably won't be released until EOY forum.getmonero.org/9/work-in-progress/86967/anonimal-s-kovri-full-time-development-funding-thread
3) Technical indicators on both USD and BTC charts: XMR is forming a bear flag on the downtrending USD chart, and a triangle (could break either way) on the BTC chart
4) Environment: Dash, ZCash, and Verge are Monero's biggest competition, and they've been doing well. Dash has been gaining traction in Venezuela since the Boliver is F*cked and people seem pissed about the Petro. ZCash might get added to Coinbase, it's already on Gemini, and you can use it to buy some stuff like VPN's. Verge keeps getting odd partnerships despite its sh*t security.
5) Sentiment: I don't visit Telegram as often as I should, but I don't hear a lot of people talking about Monero right now. 4chan has been shilling Monero for as long as I've been in crypto.
6) Experts - Well, this top rated comment analysis says short Monero
7) Insider info: Unfortunately I don't belong to any elite pump and dump groups
8) Luck
I'm thinking that when Bitcoin touches 7400/7600/7800, Monero will reach ~115, and this would be a good opportunity to short.
price: 113.00
target: 62.82
stop: 129.74
risk/reward: 3:1
-M@
BTC: 1K8U5Weva7MZHpxvNDpJGhzwR1xrYDajga
Trade attivo
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