Monero (XMR) trading cryptocurrency market update for Apr 23, 2019

Apr 24, 2019 --- Altcoins

Monero (XMR) trading cryptocurrency market update for Apr 23, 2019

Daily Chart

The past few days have not been kind to the Monero Bitcoin market considering price has moved down to new local lows on large red SCMR signals and bearish candle formations that have confirmed the bearish short-term market structure, all pointing to lower prices still. Also note that the EMA's are accelerating to the downside and are crossing below the longer-term SMA's, multiple levels of dynamic resistance are currently building above the market, the volume indications remain lackluster, and the Ichimoku Cloud is about to flip back to bearish out in front of the market, all reasons why we are now on the sidelines until signs of a reversal emerge at lower levels. Granted, price is now in the OTE long zone as momentum gets close to recharged so a bounce is possible in the near future, although price action is telling us that sub-0.012 prices are likely before the bulls return in earnest.  

 

Short term Members ProTrade - We will consider a small LONG position on a move back down to the 0.0000xxx - 0.0000xxx area with a stop around 0.0000xxx and a target of 0.0000xx.

Medium-term Members ProTrade - We will consider a LONG position on a selloff back down to the 0.00000xx - 0.00000xx area with a stop around 0.00000xx and a target of 0.000030..

Long term Members ProTrade - We will consider a LONG position on a move back down to the 0.0000000 - 0.00000xx area with a stop around 0.00000xx and a target of 0.0000xx

 

At BBA we provide members with suggestive Bitcoin trading and Cryptocurrency trading strategies and analyze the Bitcoin value on a daily basis.  This can all be accessed via our hub, which is the ultimate bitcoin trading platform for traders.

 

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