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Weekly forecast Monero / Bitcoin technical chart
Symbol XMRBTC

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.00630 to 0.00580). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

While the price is below the level 0.00745, the probability of beginning of uptrend is too weak, so we would enter the market with buy trades based on Daily-Trading-Opportunities and a day close price above 0.00745 and expect to reach short-term targets.

  • Beginning of entry zone (0.00630)
    • Support on 10/13/2019
    • Trough on 10/15/2019
    • Support on 10/16/2019
  • Ending of entry zone (0.00580)

DateOctober 25, 2019 - 12:55
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 0.010000 would begin in Midterm.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.00745 on 2019-07-04 and the trough at 0.0063 on 2019-10-15, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.00630 on 10/15/2019, so more gains to resistance(s) 0.00745, 0.00805, 0.00900 and maximum to Major Resistance (0.01000) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 53.

Take Profits:

  1. 0.00805
  2. 0.00900
  3. 0.01000
  4. 0.01170
  5. 0.01250
  6. 0.01400
  7. 0.01600
  8. 0.01900
  9. 0.02300
  10. 0.02565
Click on the level to view price action history.

Symbol Released Current Forecast
Monero / Bitcoin (XMRBTC) Mon, 11 Mar 2024
Monero / Bitcoin (XMRBTC) Tue, 20 Feb 2024
Monero / Bitcoin (XMRBTC) Tue, 30 Jan 2024
Monero / Bitcoin (XMRBTC) Wed, 10 Jan 2024
Monero / Bitcoin (XMRBTC) Sun, 17 Dec 2023