Monero trading (XMR) trading cryptocurrency market update for Mar 13, 2019

Mar 14, 2019 --- Altcoins

Monero trading (XMR) trading cryptocurrency market update for Mar 13, 2019

Daily Chart

Monero v’s Bitcoin has finally broken out from the descending triangle it has been consolidating in over the past month, and to our surprise it was to the upside on bright green SCMR signals that also took price above the moving average confluence and the bottom of the still bearish Ichimoku Cloud, all good signs for the bulls moving forward. So is the fact that market structure is improving, the momentum oscillators have started trending higher with room to run, and all of the moving averages are turning back to bullish, so we would not be surprised to see price continue up into the OTE short zone around 0.0xxx before the bears return in earnest.

 

Short term Members ProTrade - We will consider a small LONG position on a retracement back down to the 0.0xxx - 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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