On December 28, I posted a chart highlighting what I thought was the most important line in the history of Monero. I have updated it here. In the past two years the price of Monero has interacted with this key level 8 times. More often than not it acted as strong resistance and the price fell back immediately. The one time this way not the case was in August-September of 2017 where the price stayed above this level for 38 days before falling like a brick due to BTC running. Since the 6th of January 2018 we have remained well above this key level for a period of 52 days, which is very significant.
I believe that we are building a massive, four month ascending triangle, which is going to breakout in the next few weeks.
There are multiple reasons why I'm bullish on Monero. From a TA perspective, the RSI is strong, the Stoch allows for serious growth, and the Ichimoku cloud is giving 3/3 bullish signals. From a FA perspective, the MoneroV Hardfork will take place on March 14. This is a hardfork that many believe will address core issues with Monero. Others believe that like most hardforks these days it's just a money grab. Regardless, I believe it will inspire some serious price action, as long as exchange support is announced in advance.
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Komen
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Monero is flying! Trying to do a flippening on ZCash!
Komen
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Possible C&H builing on the 1h chart
Komen
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Here is the big picture chart I'm using for Monero at the moment.
Komen
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I have to imagine Monero will drop somewhat if BTC runs in the next couple of days. Setting some low buys based on previous support and the median line.
Further more the way they are forking requires one to hand over their private keys (you should consider anyone asking you to do that as a scammer), and it possibly weakens privacy on both chains.
Their devteam is a bunch of amateurs that can't answer a single question about the technology...
I'd advise everyone to stay away from this obvious scam, be safe people!
Brisben
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@TraderT33, Thanks for sharing mate. Very valuable insight!