Monero (XMR) trading cryptocurrency market update for Jun 11, 2019

Jun 12, 2019 --- Altcoins

Monero (XMR) trading cryptocurrency market update for Jun 11, 2019

Daily Chart

Monero v’s Bitcoin has popped back up above the 0.011 level today following an almost perfect tag of the broken triangle apex earlier, action which has sparked a blue SCMR reversal signal on a bullish candle formation that has taken price above the EMA's and is keeping short-term market structure intact, all fairly good signs for the bulls moving forward. That said, the bears are still in control longer-term given that the moving averages continue to fall, dynamic resistance continues to build overhead, the momentum and volume indications remain lackluster, and the Ichimoku Cloud is still growing more bearish out in front of the market, so we continue to think that the 0.0xx - 0.0xx range stays intact regardless of where price heads over the short-term.

Short term Members ProTrade - No trade idea right now

Medium-term Members ProTrade - We will consider a LONG position on a retracement back down to the 0.0xxx - 0.0xxx area with a stop around the new 0.0xxx local low and a target of 0.0xxx..

Long term Members ProTrade - We will consider a LONG position on a move back down to the 0.0xx - 0.0xx area with a stop around 0.0xx and a target of 0.0xx

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