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Market Commentary: XMR continues to outperform almost every other altcoin, especially considering the 20+% move we saw today, although this time the price action was driven by a fundamental catalyst rather than a confluence of technicals. In what was a very unexpected announcement, Bitfinex added XMRBTC and XMRUSD pairs to their trading platform. This is significant if for no other reason than it represents the first legitimate USD trading pair for XMR which could open the market to a new class of investors. Despite the tarnish on the Finex brand recently, we think this will be viewed by the market as a generally positive development, particularly since it was done without the outside help of the XMR core team to implement. This should be a signal to the industry that Monero is not to be dismissed. Today we show only the daily chart given we have been posting shorter term charts on the Slack channel all day, plus we want to put this move into context from a medium term perspective. We can see that SCMR is once again painting [members-only text] while dynamic support continues to build around [members-only text], and price briefly broke above previous highs as well as the [members-only text] areas. Additionally, the EMA's and SMA's remain bullish and volume profile looks decent below that market. Having said that, the breakout today above previous resistance has been rejected so far and exchange volumes are less than impressive for what should be a confirmation move, which tells us that this will likely be [members-only text] event eventually. This notion is confirmed by the momentum indicators seeing as though the Stochastic is entering overbought territory, Willy and RSI are getting close, MACD is showing a bearish divergence, and PPO is flashing weak [members-only text] signals. Not only that, but the A/D line has not picked up much steam to the upside, market structure remains mixed, and significant historical resistance still hangs in the [members-only text] area. While we cannot rule out a continuation up to the SCMR dynamic resistance area around 140, we would be sellers at those levels for a correction back down to the psychologically significant [members-only text] level at the very least, if not back down to the [members-only text] support region. Until then we wait for the market to top while trying to catch a quick scalp up to [members-only text]. Overall things continue to look on track for a bullish 2017 considering XMR's strong underlying fundamentals and its upwardly biased medium to long term technicals. That being said, price could be challenged over the near term regardless of whether we fail to make new highs above the 128 level or if we breakout to test the [members-only text] area, but we want to continue to buy dips down into support in order to add to the long term ProTrade. XMR ProTrade Ideas: 1). **Very Short term [NEW TRADE ISSUED on 11/30/2016]**: We will consider a [members-only text] position on a pullback to the [members-only text] area with a stop around [members-only text] and a target of [members-only text]. 1). **Short term [UPDATED on 11/30/2016]**: We will consider a [members-only text] position on a pullback to the [members-only text] area with a stop around the [members-only text] level with a target of [members-only text]. 2.) **Medium Term [UPDATED on 11/30/2016]**: We will consider adding to the LT ProTrade around the [members-only text] level with a stop around the [members-only text] level and a target of [members-only text]. 3.) **Long Term [ACTIVE; ENTERED @ 0.00595 on 10/29/2016]**: We will stay LONG off of the 59.5 level and a target of [members-only text]. We will add substantially in the [members-only text] area. **Premium members get to see live trades complete forecasts, and full charts everyday. To get your access to our edge, subscribe today.**  Disclaimer: Please always do your own due diligence, and consult your financial advisor. Author owns and trades bitcoins and other financial markets mentioned in this communication. We never provide actual trading recommendations. Trading remains at your own risk. Never invest unless you can afford to lose your entire investment. Please read our full terms of service and disclaimer at BullBearAnalytics.com.
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Market Commentary: Monero has been bullishly biased over the past few weeks, although we really didn't see an acceleration in buying until this past weekend. Following a break above the key psychological level of 0.01 early on Saturday morning, the market proceeded to extend it's rally up close to the 120 resistance area (118 to be exact). Since that local high price has been pulling back to test the key 100 near term support level, which has held so far, and given the importance of this level we would not be surprised to see it tested more than once in the coming days. Having said that, the market is currently trading in a consolidation range between 99 and 118, so until we move away from this area price should stay relatively flat. Moving on to the charts, today we want to look at both the 6-hour and the daily charts once again. We start with the daily chart for some context which is showing price pausing in the [members-only text] zone and at a significant historical resistance line. Those rejected wicks [members-only text] are not a great sign in terms of a continuation to the upside, however SCMR is still painting [members-only text] so another breakout remains a possibility. Additionally, the near term EMA's have crossed over to bullish, the 200 SMA remains slightly positive, and market structure appears to be slowly transitioning from bear to bull. Moving on to momentum and volume, things aren't nearly as bullish as they seem above. The Stochastic is now officially overbought, Willy and RSI are quickly moving up there, and PPO is now neutral. Not only that, but trading volumes remain unimpressive despite the recent rally, the A/D line is still under pressure, and volume profile is showing a large notch down between [members-only text]. As far as the 6-hour chart goes, we can see that we are getting some turtle soup rejection candles up in the medium term supply area, although SCMR is still painting [members-only text]. Additionally, we now have some bearish divergences emerging on what is close to overbought territory on Willy, RSI, and the Stochastic, while the A/D line remains suppressed and PPO paints significant sell signals. Finally, the short term EMA's are still [members-only text] and trendline support remains intact around [members-only text], however the 200 SMA continues to trend lower despite the near term respite above it. Generally speaking we are still bullish on XMR over the long term given very positive fundamentals and encouraging higher timeframe charts. Having said that, we think price is getting [members-only text]. For the time being we are expecting the market to range between 99 and 120 until resolving either up and out to the [members-only text] resistance area to complete the short term Wyckoff sell model, or we move lower from here to test more substantial support in the [members-only text] region. XMR ProTrade Ideas: 1). **Short term [UPDATED on 11/14/2016]**: We will consider a [members-only text] position on a pullback to the [members-only text] area with a stop around the [members-only text] level with a target of [members-only text]. (b) **[CANCELLED on 11/14/2016]**: We have cancelled our previous VST ProTrade (b). No new VST ProTrades at this time given poor risk/reward profiles at current levels. 2.) **Medium Term [ISSUED on 11/14/2016]**: No MT ProTrades at this time considering poor risk/reward profiles. 3.) **Long Term [ACTIVE; ENTERED @ 0.00595 on 10/29/2016]**: We will stay LONG off of the 59.5 level 40 and a target of 140. We will add substantially in the 45 - 55 area. **Premium members get to see live trades complete forecasts, and full charts everyday. To get your access to our edge, subscribe today.**  Disclaimer: Please always do your own due diligence, and consult your financial advisor. Author owns and trades bitcoins and other financial markets mentioned in this communication. We never provide actual trading recommendations. Trading remains at your own risk. Never invest unless you can afford to lose your entire investment. Please read our full terms of service and disclaimer at BullBearAnalytics.com/Legal.
Market Commentary: Up until today XMR had been in a choppy range trade between 65 - 75, one that was pressing up against the medium term downtrend line as it extended. Today that line broke, leading to a significant rally to the upside to test the EMAs, which have acted as resistance so far. That pretty much brings us up to speed, which means we can turn to the daily chart below for a look at the technicals. The most relevant feature today is the breakout above the downtrend off of the 265 highs, as well as the fact that price is now above volume profile PoC (which, btw, looks much better). Additionally, the 200-day SMA ended up holding as support, we still have a working [members-only text], and we have a [members-only text] for the first time in quite awhile. Not only that, but momentum looks very good as well right now. Willy remains officially oversold, RSI and the Stochastic have reversed to the upside, MACD still has a beautiful bullish divergence working, and PPO is flashing strong buy signals. On the other hand, the volume indicators are not painting as rosy a picture considering the A/D line has barely ticked up, exchange volumes are weak, and volume profile still needs some filling in before [members-only text]. We think a retest of the broken trendline will be in order in the not too distant future, although we also would be [members-only text] for a [members-only text]. XMR ProTrade Ideas: 1.) **Monero ProTrade - Short Term [ENTERED @ 0.00595; CLOSED @ 0.008 for +34.45% PROFIT]**: (a) We have closed our LONG position off of the 595 area at the 800 target for a profit of 34.45%. (b) **[Updated on 11/7/2016]**: We will consider adding to the Long Term position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text]. 2.) **Bitcoin ProTrade - Medium Term**: No MT ProTrades at this time considering our ST & LT positions and setups. 3.) **Bitcoin ProTrade - Long Term [ACTIVE; UPDATED on 11/7/2016]**: We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text]. We will add to the position in the [members-only text] area. **Premium members get to see live trades complete forecasts, and full charts everyday. To get your access to our edge, subscribe today.**  Disclaimer: Please always do your own due diligence, and consult your financial advisor. Author owns and trades bitcoins and other financial markets mentioned in this communication. We never provide actual trading recommendations. Trading remains at your own risk. Never invest unless you can afford to lose your entire investment. Please read our full terms of service and disclaimer at the BullBear Analytics Legal.
Market Commentary: While it wasn't the most volatile weekend in terms of price action for XMR, it was rather confusing. Following a dip slightly below 0.01 early last week, which we bought for a ProTrade, the market has since tried to break sustainably above the 120 level unsuccessfully. Having said that, price has also refused to head back below the 100 level either which has created a higher low on the shorter term charts. Now we are stuck between 110 - 120, which is a key technical area, so where we break from here will likely determine the general trend over the coming days. Despite the fact that there are some interesting things happening on the near term charts, there are still too many false signals so we are sticking to the daily chart today. We can see that price remains within the descending channel that is has been in since the top in early September, although it is now pushing it up against the upper trendline. Additionally, Willy is officially oversold, the Stochastic is oversold and bullishly divergent, MACD is divergent and close to a crossover, RSI is trying to break above 40 to confirm upside bias, and the 200-day SMA is still trending higher. Conversely, volume profile is porous down to around the 50 level, the.... For the complete forecast, full charts, ProTrade Ideas, Slack access, and bitcoin coverage please SUBSCRIBE today!  Disclaimer: Please always do your own due diligence, and consult your financial advisor. Author owns and trades bitcoins and other financial markets mentioned in this communication. We never provide actual trading recommendations. Trading remains at your own risk. Never invest unless you can afford to lose your entire investment. Please read our full terms of service and disclaimer at legal.
Market Commentary [XMR] Its been quite a week for Monero with regard to price appreciation and volume. After falling below the critical 0.001 level once again a few weeks ago it looked bleak for the most interesting anon coin on the scene in our opinion. However, as they say, "things are always darkest before the dawn". Following a textbook double bottom that held on significant volume, the all clear signal was waved for the bulls and they moved into the market en masse. In fact, over the past 24 hours, XMR has the highest trading volume of any altcoin. Combine this kind of trading volume with with a relatively small market cap and we see that Monero actually is one of the most liquid alts in terms of trading that exists in the altcoin complex at the time being. This makes it suitable for speculative trading. Market Analysis [XMR] Taking a look at the 3day chart we can see that this move might just be getting underway despite a 50% rally in the past 7 days. The double bottom is a thing of beauty, especially since both were followed by substantial volume breakouts. Additionally, OBV and Acc/Dist say that a period of accumulation has begun, RSI and Williams %R say that conditions are not even close to overbought in the medium term, and the institutional EMA'a are about to turn bullish. The only hurdles currently standing in the way of another explosive price and volume breakout is the 50 day MA at 0.0016 and the Ichimoku Cloud bottom at 0.0019. If that crucial 0.0019 level is broken, then all bets are off up to the 0.003 area.  Shorter term the price is pulling back and consolidating after hitting a new local high at 0.00169 early today. At this time, we think it is simply another bull flag or pennant (hard to tell which it will be atm) that could push prices back down into the 0.0014 to 0.00145 range, although we expect the bullish move to resume following this consolidation period. If this support area fails, then we think 0.00125 would be a great long entry point if you have missed the move up until now.
That's all for now. Stay tuned for more updates...! Crypto BullBear Weekly Watchlist: - Monero (XMR) - IOCoin (IOC) - BitMark (BTM) - XCurrency (XC) - VeriCoin (VRC) -NeosCoin (NEOS) Cheers, @AKWAnalytics Disclaimer: Please always do your own due diligence, and consult your financial advisor. Author owns and trades bitcoins and other financial markets mentioned in this communication. We never provide actual trading recommendations. Trading remains at your own risk. Never invest unless you can afford to lose your entire investment. Written by S3052. Cryptocurrency Forecast: Snapshot Coverage of Ripple, Stellar and Monero We have recently covered the litecoin forecast in this blog. In this "free week", we now extend coverage to other altcoins. Today, we issue snapshot cryptocurrency forecasts as an exception also for non-subscribers. Those snapshot forecast will display only charts with a few comments on support and resistances here. Detailed explanations, mid and long term forecasts and cryptocurrency trading education will only be available in our premium section. Prices are based on Poloniex. 1. Ripple Forecast (XRP/BTC) Down as long as trading in red channel. Breakout zones: Bullish above 0.000076 (target 0.0000865). Bearish below 0.000065 (downside target 0.000060). 2. Stellar Forecast (STR/BTC) Down as long as trading in red channel. Breakout zones: Bullish above 0.0000222 (target 0.0000278). Bearish below 0.0000180. 3. Monero Forecast (XMR/BTC) Up as long as trading above breakout wedge line: Bullish above 0.00105 (target 1: 0.00168, target 2: 0.00183). Bearish below 0.0010. Have a great Cryptoday!
@S3052 --- Do you want to learn more about Cryptocurrency Forecasts, Our Premium In-Depth Weekly Report, Daily Updates, and real-time Price Alerts? Please visit BullBear Analytics now! The Bitcoin and other cryptocurrency forecast are available as part of the Active Pro Complete package. For more information on the Bitcoin BullBear, any of the markets we cover (Litecoin, Monero, Gold, Silver, S&P 500, Nasdaq 100, DAX 30, and select individual securities), or how to subscribe to our Premium Services, please visit the Bitcoin BullBear today! We apply technical chart analysis to predict cryptocurrency prices. Our latest Monero price forecast has been spot on. The Monero price was at 0.00133101 BTC when we gave the rally forecast. Only 24 hours later, The Monero price rocketed to 0.0019390 BTC. This is a +45.68% increase. This is a percentage increase that we see often in cryptocurrencies, but not in conventional financial markets like stocks, mutual funds, etc. What Will The Monero Price Do Next? We can use the same technical analysis principles to forecast the next moves of cryptocurrencies. In this case, we clearly see an impulsive rally from the 0.0009100 low to the 0.0019390 BTC high in the December 17 - 28 period. The following downturn is a corrective one. It lacks a 5-wave Elliott Wave structure. Also, the volume during the decline has been low. We now see another rally leg as the most likely scenario going forward. This means that we see a rally to new highs above 0.0019390 BTC in the next days or weeks. This next Monero price rally will most likely reach the 0.0020 - 0.0024 BTC area. Looking at the 240min Monero price chart below, we also see a nice parallel trendchannel during the decline. And this channel has just been broken to the upside. Based on our research, we believe that the next days will again be exciting for Monero prices. Are you interested to learn more about cryptocurrency forecasts for 2015? You can still become a subscriber of the BullBear Analytics Active Pro subscriber package until January 8, 2015. This package covers the most important cryptocurrency forecasts in the world. And you get also conventional financial markets on top. Happy trading and have a great BITday!
Disclaimer: Please always do your own due diligence, and consult your financial advisor. Author owns and trades bitcoins and other financial markets mentioned in this communication. We never provide actual trading recommendations. Trading remains at your own risk. Never invest unless you can afford to lose your entire investment. Please read our full terms of service and disclaimer at terms-conditions-disclaimer/. Monero - A Rising Crypto Star?
Monero has been a rising star in the cryptocurrency world in the first part of 2014. This was before it plunged from its high of 58100 Satoshis to 9100 Satoshis on December 17, 2014. This big decline resembles a percentage drop of -82.16%. The Monero price decline is a prominent example of the "pump and dump" reality in the cryptoworld: New altcoins get hyped up by large holders. This creates broad awareness. Then, altcoin traders and speculators jump on board and the price rallies. Finally, large holders dump the coins and cash in. And as a result, the mass bag holders remain and encounter severe losses. Predicting The Monero Price with Fundamentals? This again shows that "fundamental" news don't really help to determine the most profitable trading strategy in cryptocurrencies. In summer 2014, loads of fundamental news surfaced about Monero. Still, the price did not rally any further. Technical Chart Patterns For Monero Price Forecasts Instead, a simple look at the technical chart pattern of the Monero price (XMR) could have revealed the simple truth. XMR/BTC and XMR/USD has been trapped in a persistent downtrend since late summer 2014. But this is the past. Technical analysis of cryptocurrencies helps us to look into the future: The 9100 Satoshi low was a little more than one week ago. Since then, we can see a bottoming process with strong volume. The Monero price as measured in bitcoins has rallied +59.34% from the December 17 low. When looking at the monthly Monero price chart below, we see that the short term downtrend has been broken. Based on our research, we believe that the next weeks will be very volatile for Monero. Those weeks will offer exciting trading opportunities. Are you interested if Monero prices will be UP or DOWN next month? You can still become a subscriber of the BullBear Analytics Active Pro subscriber package. This package covers the most important cryptocurrency forecasts in the world. And you get also conventional financial markets on top. |
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