XMR/USD Main trend (part). A cup with a handle is forming

This idea is just an update of the previous closed trading ideas of the main trend (to understand what is happening) and the secondary trend (to work) for 2020. I updated, so to speak, after reaching the goals of 480.18 Linear chart specifically to remove "market noise" (squeezes).

The main trend (part). A cup with a handle is forming. The cup with the base of almost 1000%. After reaching the level of $480 a pullback (formation of a classic TA handle to this huge cup) takes place.

It is rational to enter the market on a breakdown or pullback after the breakdown of the descending secondary trend (purple), which is also a resistance of the handle to the cup. Another option is to dial in portions from the support level zones by martingale, on a reversal on the underlying can also be on the breakdown of the pyramid. In very hard times for very fat wallets will show great profits in the moment...

It's worth recalling that the monero (XMR) refers to "anonymous cryptocurrency" in the crypto community. Remember where the founder of this cryptocurrency rested for a long period of time and where he is now. Therefore, we can put a point on anonymity (large amounts).

I am sure in connection with recent events in the world and the destruction of the finances of Russian oligarchs and not only this cryptocurrency will be actively used in 2022.
The liquidity is not comparable to BTC and ETH, so the price can significantly swing at a moment's notice by the cornered.

My previous trading idea for this cryptocurrency:
XMR/USDT Main Trend (long term)
From and to. 118.666 - 480.18

XMR/USDT Local work. Channel. Pivot area

Commentaire:

on Binance big squeeze buyout at 76% to $278 (17). This zone is the former secondary trend distribution zone. Now a significant pullback after the momentum (to the wedge resistance zone). Let me remind you in the global this wedge is a "handle" to the "cup and handle" figure. Also, the monero is a conditionally "anonymous" cryptocurrency, it will be relevant at the time of "looting and dekulakization" as it were. #XMR

Commentaire:

After the impulse (squeeze on the chart) the pullback and the price is now again at the wedge resistance (secondary trend or "handle" on a large scale to the TA figure "cup with handle")

Commentaire:

+50% at the moment. By the way, the price approached the price of the 76% buyback squeeze. The price is currently in the area of the local former local resistance of the secondary trend. Protect profits (albeit part of them) if you trade locally.

It is worth noting that a huge "cup with a handle" has formed in the global main trend, a secondary trend (a downtrend is its handle). This rise in price is a break of the handle resistance.

Commentaire:

There is a breakdown of the trend line. The price is at the 232.9 zone