There was a great opportunity to BUY Monero on the 18.08 and for SELL on the 27.08 as shown by the TD Setup.
Currently, there is a long bear period for Monero since the coin was heavily overbought.
I am neutral on Monero because:
- RSI has still potential to go down
- Green TD setup was interrupted
- When looking at XMRUSD the correlation with BTC is strong and negative (those periods should not take too long in the current market)
on the other side
- Monero is sitting on a 0.618 fib retracement, which gives a good probability of a bounce
- AMFI (Adjusted MFI) is getting oversold
Currently, there is a long bear period for Monero since the coin was heavily overbought.
I am neutral on Monero because:
- RSI has still potential to go down
- Green TD setup was interrupted
- When looking at XMRUSD the correlation with BTC is strong and negative (those periods should not take too long in the current market)
on the other side
- Monero is sitting on a 0.618 fib retracement, which gives a good probability of a bounce
- AMFI (Adjusted MFI) is getting oversold