XMR/USDT - Monero/USDT - Swing Position

Date: 06/12/24

Name: Monero/USDT – XMR/USDT

Market cap
3.69B
3.96%
Volume (24h)
169.95M
9.18%
FDV
3.69B
Vol/Mkt Cap (24h)
4.61%
Total supply
18.45M XMR
Max. supply
∞
Circulating supply
18.45M XMR





Daily Time Frame – Swing Position – Long!

Reasons to be Bullish Case:
1) Structure: Range Breaking out
2) Current phase: Strong Bullish momentum, +Low market Cap, Low Circulating Supply
3) Overall trend: Range.
(4) Internal: Structure Shift towards upside, Pull Back done, uptrend continuation, internal Shift, ready to sky rocket.
(5) Important Key notes: .
- 910 of Range break out, Prior higher low (support) hold, did not invalidated its previous structure, still bullish
- Currently testing its Range highs, (Resistance & Supply area - key level on Daily Time frame range. )
Worst case Senerios:
4) Bitcoin is currently at All time high, liquidation flush remaining (75k – 80k)
5) Due to liquidity generated and Demand zone sitting below.
6) if $184 is not hold, then we can see further buying opportunities on marked point of interests.
7) Invalidation below $128
8)

Trade Plans:
BUY CMP: $198.10
DCA: $178-$145

Invalidation: $128

Trend Based Fibionacci Targets:
Target 1: $ 576
Target 2: $ 865
Target 3: $ 1044
Target 4: $ 1334

**This is not a financial advice, these are my personal trade journals, Do your own research before taking any action. **