InvestingScope

Break-out confirmed. Attempt for a Lower High and then short.

BITFINEX:XMRUSD   Monero
Monero is about to break the Rectangle's 109.147 Resistance, having already crossed the resisting line (straight blue) of the 1D Falling Wedge (now on bullish Highs/Lows = 6.3066, B/BP = 16.4176). Crossing the Rectangle is translated into an attempt to price a Lower High on the 1W level, which remains a strong bearish Falling Wedge (MACD = -27.038, Highs/Lows = -6.4217, B/BP = -51.2617). The Lower High should be between the 0.5 and 0.618 Fibonacci Retracement zone (113.099 - 122.130) from the previous 1W High = 150.042. We expect the blue curves to contain any further upside attempts on XMRUSD.

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