astronautdotgg

XMR - Falling Wedge

BINANCE:XMRBTC   None
A user requested TA on XMR this morning and this actually looks like a gold mine. First of all, there is a very clear falling wedge on XMR/BTC on the 4H. A lot of people think falling wedges are bad but keep in mind that falling wedges tend to be bullish. Not only this, but taking a look at the MACD, XMR has made many attempts to flip positive and looks like it should have a bullish crossover anytime now. The RSI is about to fall into the oversold zone and things just look fantastic TA wise! I would enter anywhere between 25k-26.3k sats before the falling wedge breaks. My targets are based on fibonacci levels: 26.9k, 27.9k, 28.8k, 30k, and 32 sats. Lastly, I am not setting a stop loss on this, however if I were I would probably set one around 24.5k sats.

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