IF we go below $9.47, I do not see us staying below that...
... point for very long at all. I would expect a MARK UP to be in short order afterwards up towards the top Aqua Blue horizontal line. I would not be surprised to see several shakeouts from the start when it begins to move and many more shakeouts along the way.
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My chart if you want to copy it: www.tradingview.com/chart/WIMSCtMM/
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I know many who have bought in to XMR lately have become frustrated. I switched my focus to USD. HOWEVER, do NOT ignore watching XMRBTC and BTCUSD. The whale noticed all the support between $9.47 and $9.65 from previous encounters and decided to keep it just above that support rather than confronting it for whatever reason. This is why I would not be surprised to see us take a short markup WITHOUT a breakout first before dropping down for more consolidation before having an official markup WITH a breakout.
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When the whale(s) noticed the support in USD, they began to turn their focus on XMRBTC and dropped it FIRST before moving to XMRUSD and dropping it. They also did it slow and methodical rather than a violent move down. The slow methodical moves accomplish other things as well that I don't have time to get into now. I'm sleepy and about to get to bed. Just wanted to share my thoughts of what I believe is playing out.
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Before I go to sleep, I want to say I believe XMRUSD gives us a true representation of moves to come with Monero rather than XMRBTC.
Again, DO NOT IGNORE XMRBTC and BTCUSD. If BTCUSD remains the same but XMRUSD moves, XMRBTC will move accordingly. However, this evening, XMRBTC decided to move first AFTER they saw the support in XMRUSD. I thought it kind of funny the USD Bulls had to switch it up and go slow and methodical after finding that support. The deeper they took it below $10.00 the more Support they encountered. So, they slowed their roll.
Again, DO NOT IGNORE XMRBTC and BTCUSD. If BTCUSD remains the same but XMRUSD moves, XMRBTC will move accordingly. However, this evening, XMRBTC decided to move first AFTER they saw the support in XMRUSD. I thought it kind of funny the USD Bulls had to switch it up and go slow and methodical after finding that support. The deeper they took it below $10.00 the more Support they encountered. So, they slowed their roll.
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The cover chart was with Heikin-Ashi Candles. This one is with regular candles:
Copy of the chart with regular candles if you want it: www.tradingview.com/chart/WIMSCtMM/
Copy of the chart with regular candles if you want it: www.tradingview.com/chart/WIMSCtMM/
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Info on Heikin-Ashi Candles: www.investopedi...l/04/092204.asp?lgl=bt1tn-...
stockcharts.com...school/doku.php?id=chart_s...
stockcharts.com...school/doku.php?id=chart_s...
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Keep in mind, the whale got them a lot of BTC tonight when selling their XMR for BTC. We'll see what they intend to do with it. This may have been their way of accumulation of BTC after dumping loads of it from the BitFinex Hack they accumulated, etc...
ETH and DASH may be the next ones to go down before any big moves in BTCUSD. Time will tell.
ETH and DASH may be the next ones to go down before any big moves in BTCUSD. Time will tell.
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Heikin-Ashi Candles should only be used to determine Momentum, Supply and Demand for the most part. Regular candles for proper placement of trends, support, resistance, breakout lines, etc...
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Be sure to read up on the other links provided for Heikin-Ashi to get better familiar with how it can assist with other indicators.