THE MONERO MOON (ISSUE 52) IS OUT NOW! It covers all the latest Monero news throughout the past week in a curated fashion. Developments, tech, events, memes, general news, speculation, etc and more!
https://www.themoneromoon.com/p/the-monero-moon-issue-52
Also, The XMR/BTC 20 week SMA has just crossed over the 100 week SMA!
The last time Monero's 20 week SMA crossed over the 100 week SMA was May 2016, sparking the beginning of the biggest bullrun XMR has ever seen!
https://www.themoneromoon.com/p/the-monero-moon-issue-52
Also, The XMR/BTC 20 week SMA has just crossed over the 100 week SMA!
The last time Monero's 20 week SMA crossed over the 100 week SMA was May 2016, sparking the beginning of the biggest bullrun XMR has ever seen!
While I do like your analysis, given the short to mid-term trend (20 to 100 weeks) has crossed bullish, what about the 200 Week MA that's been trending downwards in bearish formation for the past 2 years?
It seems a bit selective to highlight the 20 and 100 WMAs without the 200 in my opinion. I referenced this in previous pages that I'm not convinced about this four year long trend-line break-out when price remains below the bearish trending 200 WMA. For now it looks like a fake-out and bull trap waiting to happen, comfortably above it then sure higher levels become much more likely, but for now it remains unconvincing.
Yes fair call, definitely a possibility of a bull trap.
This is the closest we've gotten to the 200wma since breaking down through it in 2019, so if Monero is what we all hope it is, given all the recent privacy concerns, such as tornado cash sanctions and canadian truckers etc, and the potential for a market-wide reversal, I think it's time for XMR to do its thing.