Implications and Outlook
1. Monero did reach a Mean Support $189 and Coin Dip levels in severely overbought momentum reading as the move above Mean Resistance $213 failed as projected. The coin started a correction off that level and dropped below the $200 once again.
2. Monero further bearish momentum is likely to hit Mean Support $189 and Coin Dip $184 once again. The short-term corrective pattern is intact.
3. We nevertheless anticipate the recovering trend to resume inspite of the weakness, for the time being, investors and traders should not get into new trades until the new Mean Support $191 in development is confirmed.
4. Current bearish/bullish bias is 60/40
5. Please see this article about the crypto market - enjoy. www.tradingsig.com/b...25000-this-year.html
1. Monero did reach a Mean Support $189 and Coin Dip levels in severely overbought momentum reading as the move above Mean Resistance $213 failed as projected. The coin started a correction off that level and dropped below the $200 once again.
2. Monero further bearish momentum is likely to hit Mean Support $189 and Coin Dip $184 once again. The short-term corrective pattern is intact.
3. We nevertheless anticipate the recovering trend to resume inspite of the weakness, for the time being, investors and traders should not get into new trades until the new Mean Support $191 in development is confirmed.
4. Current bearish/bullish bias is 60/40
5. Please see this article about the crypto market - enjoy. www.tradingsig.com/b...25000-this-year.html