Monero xmr/usd completes the buying and selling week close to the place of 90. Cryptocurrency is traded below the decrease boundary of Ichimoku Kinko Hyo cloud, which shows the presence of a bearish trend for monero. Ichimoku Kinko Hyo indicator cloud is anticipated close to the level of ninety-three, from which one should anticipate a rebound and the continuation of the development of the bearish trend with a target to falling near the extent of 50.
There is a high likelihood that 12.10.2017 break-out below $0.45 and support line will form a basis for a two-bar reversal pattern. Advised from yesterday’s developments, and failure of price action to trend lower, the previous bear projection is now invalid. Since price action is still trending within a tight $0.10 range, I will wait for a break above resistance trend line and fine-tune long entries in shorter time frames with perfect prices around support at $0.45. A safe stop loss will be below second support at $0.38 with an immediate bull target at $0.65.
There is a high likelihood that 12.10.2017 break-out below $0.45 and support line will form a basis for a two-bar reversal pattern. Advised from yesterday’s developments, and failure of price action to trend lower, the previous bear projection is now invalid. Since price action is still trending within a tight $0.10 range, I will wait for a break above resistance trend line and fine-tune long entries in shorter time frames with perfect prices around support at $0.45. A safe stop loss will be below second support at $0.38 with an immediate bull target at $0.65.