It was a very good weekend for the Monero v’s Bitcoin bulls considering price broke out above the 0.0135 level on the way to 0.014 on bright green SCMR signals and large bullish candle formations which are now testing the medium-term downtrend line and falling 200 SMA, which are acting as resistance for the time being. No doubt that this is all good news for the bulls, as are the rising moving averages, the active dynamic support dots, the improving momentum and volume indications, and the now bullish Ichimoku Cloud which suggests another leg higher soon, although this could easily be part of a larger symmetrical triangle so we would be surprised if price was able to get sustainably above the 0.015 level before a retest of the mid-0.013's first.
Short term Members ProTrade - We will consider a small LONG position on a retracement back down to the 0.0xx - 0.0xxx area with a stop just below 0.0xxx and a target of 0.0xxx.
Medium term Members ProTrade - We will consider a LONG position on a continuation down to the 0.0xxx - 0.0xxx with a stop just below 0.0xxx and a target of 0.0xxx.
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