[XMR] Monero Speculation

[explorer]

Personally, I don't think Monero will go to the 005s or even low 006s.  If it does, it will be because BTC rips up (or corrects suddenly) and it will be temporary.  Absolute worst case is bouncing off 0.0063 - but I can't see that in all but 10% of scenarios.

I see strengthening support in XMR/BTC around the .007 mark, even what looks like a double bottom. The XMR/USD chart looks healthier still.

We shall see, but the buy side XMR/BTC is strengthening again slightly (from what looked to be the worst ratio in a long time).  I will agree it's early to be saying so, the volume is still low, but I am thinking there is a good chance of this being the local bottom.

Gonna cull a few alts and throw the proceeds in.  Hope I am right

DYOR - I did sell the top a bit, but bought back in far too early.  Props to elrippos friend for a better take on the drop than I had.

Support has been very strong.  I've been waiting for that btc-rocket fuelled spike down, but instead we gain strength.  I don't know.  A few more days and that may be it.

I've been watching this develop:
(lines roughly transferred from a different chart for ease of sharing)




ZOOM:

[Hueristic]

DYOR - I did sell the top a bit, but bought back in far too early.  Props to elrippos friend for a better take on the drop than I had.

Well to be fair he said to buy back somewhere in December so we shall see.


I just can't take the chance of getting boned like alphabay again, so no selling any tops for me.

[explorer]

Personally, I don't think Monero will go to the 005s or even low 006s.  If it does, it will be because BTC rips up (or corrects suddenly) and it will be temporary.  Absolute worst case is bouncing off 0.0063 - but I can't see that in all but 10% of scenarios.

I see strengthening support in XMR/BTC around the .007 mark, even what looks like a double bottom. The XMR/USD chart looks healthier still.

We shall see, but the buy side XMR/BTC is strengthening again slightly (from what looked to be the worst ratio in a long time).  I will agree it's early to be saying so, the volume is still low, but I am thinking there is a good chance of this being the local bottom.

Gonna cull a few alts and throw the proceeds in.  Hope I am right

DYOR - I did sell the top a bit, but bought back in far too early.  Props to elrippos friend for a better take on the drop than I had.

Support has been very strong.  I've been waiting for that btc-rocket fuelled spike down, but instead we gain strength.  I don't know.  A few more days and that may be it.

I've been watching this develop:
(lines roughly transferred from a different chart for ease of sharing)




ZOOM:

New low in the 0067's, and peeked through the trend line.  Watching...


Announcing last stop in the 6300 block.  Please be prepared to exit the short bus, and make your way to the long bus.  Don't forget your helmets!

[elrippos friend]

We have roughly 2 weeks for levelling out the bottom, so let´s see how it develops 

[johnalan]

We have roughly 2 weeks for levelling out the bottom, so let´s see how it develops 

I know you’re bullish.

But at 0.0068, if BTC goes on a run, how can we ever expect to get back to 0.015-0.02?

[explorer]

We have roughly 2 weeks for levelling out the bottom, so let´s see how it develops  

I know you’re bullish.

But at 0.0068, if BTC goes on a run, how can we ever expect to get back to 0.015-0.02?

The tried and true way.  By going on a bigger run.

[phishead]

We have roughly 2 weeks for levelling out the bottom, so let´s see how it develops 

I know you’re bullish.

But at 0.0068, if BTC goes on a run, how can we ever expect to get back to 0.015-0.02?

The tried and true way.  By going on a bigger run.

Not necessarily...

I like to think of this as the sling shot method. BTC rallies, all alts pull back, BTC stagnates for a month or two, alts rally in the meantime. That seems a little more tried and true

[explorer]

We have roughly 2 weeks for levelling out the bottom, so let´s see how it develops 

I know you’re bullish.

But at 0.0068, if BTC goes on a run, how can we ever expect to get back to 0.015-0.02?

The tried and true way.  By going on a bigger run.

Not necessarily...

I like to think of this as the sling shot method. BTC rallies, all alts pull back, BTC stagnates for a month or two, alts rally in the meantime. That seems a little more tried and true

Monero doesn't follow the alts very well.  It does slingshot rather well though 

[Entei]

I was reading the previous comments and many are right and in this case we can know that Monero has its own path of appreciation despite following the appreciation of Bitcoin where the entire market follows this line. We can say that one day there will be a market crash in relation to the separation of each altcoin we can say that Monero is in great condition to move on alone.

[kurious]

We have roughly 2 weeks for levelling out the bottom, so let´s see how it develops  

You may be right, Monero used to have December lows, then a spring renaissance.  With Bitcoin ripping away it is hard to predict anything, other than there will of course be another run up.   I am sure we will see the USD ATH smashed once again in this cycle.  

Let's see what pans out, you have been right so far.  I did sell a chunk in 2017 - but I have only sold to scalp back more coins since it all cooled down in 2018, I am now happy to wait until the rally to come.

[Smartprofit]

We have roughly 2 weeks for levelling out the bottom, so let´s see how it develops 

I know you’re bullish.

But at 0.0068, if BTC goes on a run, how can we ever expect to get back to 0.015-0.02?

Currently, all investors' attention is directed towards bitcoin. 

As a result of the fall update of the Monero code, the price of the coin has risen above 0.01 BTC. 

That being said, the XMR price is currently 0.068 BTC ($ 122).  Monero hashrate is 1595 MH / S and this figure is growing. 

The next code update will be in the spring of 2021.  Also in the spring of 2021 (with a high degree of probability) the launch of the main network of the Tari digital asset platform will take place. 

https://www.tari.com/

Bitcoin price will be above $ 20,000.  Investors will be looking for similar but undervalued cryptocurrencies.  In my opinion, in 2021 the price of Monero could exceed 0.02 BTC.

[elrippos friend]

We have roughly 2 weeks for levelling out the bottom, so let´s see how it develops  

You may be right, Monero used to have December lows, then a spring renaissance.  With Bitcoin ripping away it is hard to predict anything, other than there will of course be another run up.   I am sure we will see the USD ATH smashed once again in this cycle.  

Let's see what pans out, you have been right so far.  I did sell a chunk in 2017 - but I have only sold to scalp back more coins since it all cooled down in 2018, I am now happy to wait until the rally to come.

I hope i am right, i would be happy to see low 0,006 but i always also would not mind to buy back at the actual price  

[elrippos friend]

We have roughly 2 weeks for levelling out the bottom, so let´s see how it develops 

I know you’re bullish.

But at 0.0068, if BTC goes on a run, how can we ever expect to get back to 0.015-0.02?

Currently, all investors' attention is directed towards bitcoin. 

As a result of the fall update of the Monero code, the price of the coin has risen above 0.01 BTC. 

That being said, the XMR price is currently 0.068 BTC ($ 122).  Monero hashrate is 1595 MH / S and this figure is growing. 

The next code update will be in the spring of 2021.  Also in the spring of 2021 (with a high degree of probability) the launch of the main network of the Tari digital asset platform will take place. 

https://www.tari.com/

Bitcoin price will be above $ 20,000.  Investors will be looking for similar but undervalued cryptocurrencies.  In my opinion, in 2021 the price of Monero could exceed 0.02 BTC.

The price of Monero will exceed 0,02 by far, everything else doesn´t fit Moneros character 

[cAPSLOCK]

We have roughly 2 weeks for levelling out the bottom, so let´s see how it develops 

I know you’re bullish.

But at 0.0068, if BTC goes on a run, how can we ever expect to get back to 0.015-0.02?

Currently, all investors' attention is directed towards bitcoin. 

As a result of the fall update of the Monero code, the price of the coin has risen above 0.01 BTC. 

That being said, the XMR price is currently 0.068 BTC ($ 122).  Monero hashrate is 1595 MH / S and this figure is growing. 

The next code update will be in the spring of 2021.  Also in the spring of 2021 (with a high degree of probability) the launch of the main network of the Tari digital asset platform will take place. 

https://www.tari.com/

Bitcoin price will be above $ 20,000.  Investors will be looking for similar but undervalued cryptocurrencies.  In my opinion, in 2021 the price of Monero could exceed 0.02 BTC.

I would LOVE for someone to explain to me why I should be excited about Tari.  Another "digital assets platform"?  Meh.  It sounds like ICOs and DeFi on Monero to me.

I originally thought Tari would be a lightning like layer 2.  Maybe it is also that?  I don't know.

I feel like I have fairly decent feelers and seers when it comes to future value... it's why I got into XMR in the first place. 

I'm just not feeling/seeing Tari.  Would some generous soul explain it to me?  Or tell me where I can read about what it is that does NOT sound like the marketing blurb on the website?  I feel like it's putting the fluff in fluffy.

[kurious]

^merited for 'putting the fluff in fluffy' 

[elrippos friend]

0,0067 seems to be a hard border to cross, BUT ....

[Globb0]

I zoomed out a bit on the daily.

I note the recent "peak" was not a bart pattern

RSI pretty low, scanning along the time in the chart each time it went that low there was some subsequent up.

Also I got my Monero back that I left behind on way up.     yay

[dragonvslinux]

I zoomed out a bit on the daily.

I note the recent "peak" was not a bart pattern

RSI pretty low, scanning along the time in the chart each time it went that low there was some subsequent up.

Also I got my Monero back that I left behind on way up.     yay

From a fib retracement perspective (regardless of how you look at it) - it looks bad. Falling through the volume point of control isn't a good sign either.



If the Week closes below the 0.236 "last line in the sand" retracement level, then I'd be expecting lower lows personally 

[Globb0]

From a fib retracement perspective (regardless of how you look at it) - it looks bad. Falling through the volume point of control isn't a good sign either.



If the Week closes below the 0.236 "last line in the sand" retracement level, then I'd be expecting lower lows personally  

This being a speculation thread that sounds like a lovely buy the dip oppoertunity.


Anywhere here or bellow must be tempting in those bitcoins. OK its (BTC) on a run for now. But patience.


There will be an back flow, all those reds like that chart even look quite sus/but of course its not the price its the bitcoin value.

[dragonvslinux]

From a fib retracement perspective (regardless of how you look at it) - it looks bad. Falling through the volume point of control isn't a good sign either.



If the Week closes below the 0.236 "last line in the sand" retracement level, then I'd be expecting lower lows personally  

This being a speculation thread that sounds like a lovely buy the dip oppoertunity.


Anywhere here or bellow must be tempting in those bitcoins. OK its (BTC) on a run for now. But patience.


There will be an back flow, all those reds like that chart even look quite sus/but of course its not the price its the bitcoin value.

I also think it could be a great buy the dip opportunity, after all XMR is 40% down from recent highs, 80% from ATH. There's no doubt in my mind it's a great discount at these prices, given Monero's fundamental value that I believe is still as strong as ever before. My only concern is, if price doesn't bounce back from these levels, it could be in deep trouble.

I'm personally waiting for the Week to close, hoping for a wick to form at the bottom of the current candle (for confirmation of support) before considering averaging in any further. This price structure reminds me a bit of BAT/BTC, that also had a similar spike in price, but when it came to bouncing off the lows again, it broke through dropping another 30%.

I'm airing on the side of caution right now.