Monero lagging behind bitcoin: Eliott wave analysis
I've been taking a look at Monero, and this coin looks interesting:
1. It didn't climb a lot since the low in December
2. It XMRUSD basically looks EXACTLY the same as BTCUSD
3. It's doing the same as bitcoin, but lagging behindt
4. It's now where bitcoin was 1-2 months ago
5. The coin itself is interesting because of fundamentals, anonymity etc
So, I have to revise my last analysis, which was based on an older idea for bitcoin.
But now that bitcoin is confirmed in ultra berserk mode, we of course also have other implications for altcoins.
So the above points, together with an Eliott wave count, let me believe that XMRUSD will see a nice rally, basically mirroring
BTCs rally, but with delay.
We currently haven't even started wave 3 yet in XMR, while BTC has done wave 3 and hit it's peak at 7500, currently waiting for wave 5 to 10k.
If nothing crazy or unforeseen happens to bitcoin, I think the likelihood for an XMR rally is high.
Of course, the really insane altcoin rallies will start in 2020+, when we'll see good old x10 and more :)
1. It didn't climb a lot since the low in December
2. It XMRUSD basically looks EXACTLY the same as BTCUSD
3. It's doing the same as bitcoin, but lagging behindt
4. It's now where bitcoin was 1-2 months ago
5. The coin itself is interesting because of fundamentals, anonymity etc
So, I have to revise my last analysis, which was based on an older idea for bitcoin.
But now that bitcoin is confirmed in ultra berserk mode, we of course also have other implications for altcoins.
So the above points, together with an Eliott wave count, let me believe that XMRUSD will see a nice rally, basically mirroring
BTCs rally, but with delay.
We currently haven't even started wave 3 yet in XMR, while BTC has done wave 3 and hit it's peak at 7500, currently waiting for wave 5 to 10k.
If nothing crazy or unforeseen happens to bitcoin, I think the likelihood for an XMR rally is high.
Of course, the really insane altcoin rallies will start in 2020+, when we'll see good old x10 and more :)