Hopefully this triangle is about right
Maybe a larger triangle would be useful?
Feeling is that 0.019 is the turning point
The breaking point for downwards motion, otherwise, it will bounce off 0.018-0.019 and continue oscillating
Thanks @veryevilone:
Not sure about how this fits into the big picture quite yet:
Inevitable BTC bull run incoming
XMR is due for a markdown and correction, but..
People still seem optimistic for rise + very strong support at 0.018
Seems to be another support/resistance layer at ~.021
If the masses hodl and DNM support continues, and BTC impact looks minimal (so whales/investors might just pull funds in and out on the waves to profit from both sides), XMR would probably just bounce off bottom resistance.
XMR has built up support and barring disaster has no reason for investors to lose faith. Public media exposure exists and solid market (DNM) exists, so input of value should continue. This also means that BTC growth might end up adding more value to XMR.
Maybe a larger triangle would be useful?
Feeling is that 0.019 is the turning point
The breaking point for downwards motion, otherwise, it will bounce off 0.018-0.019 and continue oscillating
Thanks @veryevilone:
Not sure about how this fits into the big picture quite yet:
Inevitable BTC bull run incoming
XMR is due for a markdown and correction, but..
People still seem optimistic for rise + very strong support at 0.018
Seems to be another support/resistance layer at ~.021
If the masses hodl and DNM support continues, and BTC impact looks minimal (so whales/investors might just pull funds in and out on the waves to profit from both sides), XMR would probably just bounce off bottom resistance.
XMR has built up support and barring disaster has no reason for investors to lose faith. Public media exposure exists and solid market (DNM) exists, so input of value should continue. This also means that BTC growth might end up adding more value to XMR.