XMRBTC Inverse head and shoulder sets up breakout
Updated
Quickpost
XMRBTC has been exploding sideways for over 1400 days. While it has done so it has created a macro symmetrical triangle that I suspect will break to the upside. There is a inverse head and shoulders that has been developing for about the last 6 months and is seems ready for the right shoulder to makes its move to the neckline then perform.
The inverse head and shoulder market is a mere 25%
The triangle target is about 400%.
This leads into the XMRUSD cup and handle which I want to get 150x out of.
XMRBTC has been exploding sideways for over 1400 days. While it has done so it has created a macro symmetrical triangle that I suspect will break to the upside. There is a inverse head and shoulders that has been developing for about the last 6 months and is seems ready for the right shoulder to makes its move to the neckline then perform.
The inverse head and shoulder market is a mere 25%
The triangle target is about 400%.
This leads into the XMRUSD cup and handle which I want to get 150x out of.
Comment
Price has finally reached the neckline of the inverse head and shoulders. A look at the MACD and the MACD EMAs show that price has gotten above the EMAs and the MACD is above zero. If price closes above the MACD EMAs with a green candle that will be a very bullish showing. I hope to see something resembling a Elliot wave impulse up to the 2.618 target with some stalls at key fib levels.Here is another look at the 3 day price action, this time with the EMA ribbon. Price has poked u proudly and we can see the last time that happend XMRBTC went to the top of the triangle resistance.
Right now a full performance of this symmetrical triangle gets price pretty high. Realistically we will stall out in the orange shaded area. That is 200-300% more over gains in XMR than in bitcoin for the initial stages of this nascent bull run.
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