In the crypto space, it's quite difficult to talk about long-term trading because very few coins actually survive for a long time and continue to show cyclical dynamics. But when such coins do appear, their setups can be published in a textbook on technical analysis.
On the weekly chart, we see a formed Wyckoff accumulation structure with almost all the features inherent to this structure on the chart.
We can see how smart money accumulated their positions from mid-2022, conducted a local rally in early 2023, thus forming a range in which we have been for almost 2 years.
This was possible due to the negative sentiment around the coin (tightening regulatory screws, delisting from a number of exchanges, including Binance on February 20, 2024) and the lack of speculative hype around XMR.
However, the price has now broken out of the range and confidently consolidated above it, and right now there is a good opportunity in terms of Risk/Reward to go long on XMR.
It should be noted that the trade will be positional, with a horizon of more than 6+ months. However, the wait may be justified because the volume profile on the chart does not illustrate large "walls," i.e., potential seller pressure across the entire price range up to the ATH.
XMRUSD
On the weekly chart, we see a formed Wyckoff accumulation structure with almost all the features inherent to this structure on the chart.
We can see how smart money accumulated their positions from mid-2022, conducted a local rally in early 2023, thus forming a range in which we have been for almost 2 years.
This was possible due to the negative sentiment around the coin (tightening regulatory screws, delisting from a number of exchanges, including Binance on February 20, 2024) and the lack of speculative hype around XMR.
However, the price has now broken out of the range and confidently consolidated above it, and right now there is a good opportunity in terms of Risk/Reward to go long on XMR.
It should be noted that the trade will be positional, with a horizon of more than 6+ months. However, the wait may be justified because the volume profile on the chart does not illustrate large "walls," i.e., potential seller pressure across the entire price range up to the ATH.
XMRUSD 交易進行
...and remember: everything's already priced in. You can read the whole story from the chart.註釋
As you see, the Creek has acted as a support level once again. Our position is pretty safe now.交易結束：目標達成
The scenario is unfolding (according to the rumors from the market, because of hackers buying XMR right now)註釋
We could possibly sell a portion of the position
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