I bought in with the current hype at 0.0087 which is pretty typical, Bought almost 500 of them but im starting to panic a bit now. Hopefully once it gets above that a bit i will just dump these and try and take a small amount of profit. Maybe it will go up in the future but its too risky atm with no sign of a gui or anything.
Monero price is evolving inside a symmetrical triangle continuation pattern:
If you want to keep your position open just set your sell stop (you did place a sell stop right?) just below the low price defined by the triangle. Right now that would be sell stop at .0074. At some point in time price will break out of the triangle. If to the upside you win and your sell stop protects you if price breaks down.
Need to make a correction: I would set a sell stop at .0073 if you are on the cautious side; if you are willing to take more risk use .0071. Within the next couple of weeks I think we will either see a new all time high or a sharp correction. If you see a sharp correction on heavy volume you should consider buying if you can handle the risk. On an hourly chart of XMR/BTC at Poloniex that would be volume of
at least 50000. You want to be buying when others are selling hard so if we have a down day just follow the hourly chart and when volume hits 50000 consider buying. Hard to predict what the price would be at that time. Since the party started Fibonacci levels on an hourly chart give some suggested buy zones:
Remember you could always lose any money you invest in any crypto so buy at your own risk. I put up charts to help people understand how to use risk management when trading. If you trade always use a sell stop and have a profit objective. Don't use an exchange to park your bitcoin. If you are not trading get your bitcoin off the exchange and into your local wallet.
