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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 (0.00685 to 0.00630). 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 0.00755, 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 0.00755 and expect to reach short-term targets.

  • Beginning of entry zone (0.00685)
    • Support on 09/24/2019
    • Support on 09/25/2019
    • Support on 09/26/2019
    • Support on 09/29/2019
    • Resistance on 10/01/2019
    • Resistance on 10/02/2019
    • Resistance on 10/03/2019
    • Resistance on 10/08/2019
    • Resistance on 10/09/2019
    • Resistance on 10/16/2019
    • Support on 10/24/2019
    • Support on 10/25/2019
    • Support on 11/09/2019
    • Trough on 11/25/2019
    • Support on 11/25/2019
  • Ending of entry zone (0.00630)
    • Support on 10/13/2019
    • Trough on 10/15/2019
    • Support on 10/16/2019
    • Support on 10/31/2019

DateDecember 1, 2019 - 19:42
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 0.00580, beginning of uptrend is expected.
  • We make sure when the resistance at 0.01000 breaks.
  • If the support at 0.00580 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.00745 on 2019-07-04 and the trough at 0.00605 on 2019-10-27, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.00685 on 11/25/2019, so more gains to resistance(s) 0.00755, 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 55.

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) Sun, 13 Sep 2020
Monero / Bitcoin (XMRBTC) Mon, 31 Aug 2020
Monero / Bitcoin (XMRBTC) Mon, 24 Aug 2020
Monero / Bitcoin (XMRBTC) free Sun, 16 Aug 2020
Monero / Bitcoin (XMRBTC) Mon, 10 Aug 2020