XMRBTC Inverse head and shoulder sets up breakout

27 de set. de 2023

Quickpost
XMRBTC has been exploding sideways for over 1400 days. While it has done so it has created a macro symmetrical triangle that I suspect will break to the upside. There is a inverse head and shoulders that has been developing for about the last 6 months and is seems ready for the right shoulder to makes its move to the neckline then perform.

The inverse head and shoulder market is a mere 25%

The triangle target is about 400%.

This leads into the XMRUSD cup and handle which I want to get 150x out of.

11 de out. de 2023

Nota

Price has finally reached the neckline of the inverse head and shoulders. A look at the MACD and the MACD EMAs show that price has gotten above the EMAs and the MACD is above zero. If price closes above the MACD EMAs with a green candle that will be a very bullish showing. I hope to see something resembling a Elliot wave impulse up to the 2.618 target with some stalls at key fib levels.


Here is another look at the 3 day price action, this time with the EMA ribbon. Price has poked u proudly and we can see the last time that happend XMRBTC went to the top of the triangle resistance.


Right now a full performance of this symmetrical triangle gets price pretty high. Realistically we will stall out in the orange shaded area. That is 200-300% more over gains in XMR than in bitcoin for the initial stages of this nascent bull run.