Looks like XMR formed a triple top at around .00162. That's usually pretty bearish and indicates a reversal of an uptrend.
Again, talking about chart patterns when those three tops could be one or two people seems silly.
Topic: [XMR] Monero Speculation - page 2062. (Read 3313076 times)
This is my follow up on the TA for the Monero bear market. It is starting to look like a textbook case of a "failed" bear market with a truncated 5th wave and breakout out of a wedge on strong volume. This is actually a rare Elliot Wave pattern. The truncated fifth wave has all the normal sub wave but either does not extend past the 3rd wave or only barely extends past the 3rd wave. In this case an over lap between the 4th and 1st sub waves is allowed because of the triangle / wedge formation. It can be a very difficult pattern to trade because one can relabel the truncated 5th wave and 4th wave into an extended 4th wave bear market correction. http://ewminteractive.com/elliott-wave-patterns/ The indication here is for a significant chance of a sharp upward move.
Disclaimer: I may hold a position in XMR (Monero), XBT (Bitcoin) and / or NMC (Namecoin). This should not be construed as investment advice. Anyone considering an investment in crypto currencies should consult their investment, legal and tax advisers. Investment in XMR or other crypto currencies may lead to a complete loss of funds.
Disclaimer: I may hold a position in XMR (Monero), XBT (Bitcoin) and / or NMC (Namecoin). This should not be construed as investment advice. Anyone considering an investment in crypto currencies should consult their investment, legal and tax advisers. Investment in XMR or other crypto currencies may lead to a complete loss of funds.
I really like ready your analysis's but I have no clue what your saying most of the time.
But monero is so thinly traded... Your analysis looks good, but it's too easy for even a single actor to make this current market happen.
This is my follow up on the TA for the Monero bear market. It is starting to look like a textbook case of a "failed" bear market with a truncated 5th wave and breakout out of a wedge on strong volume. This is actually a rare Elliot Wave pattern. The truncated fifth wave has all the normal sub wave but either does not extend past the 3rd wave or only barely extends past the 3rd wave. In this case an over lap between the 4th and 1st sub waves is allowed because of the triangle / wedge formation. It can be a very difficult pattern to trade because one can relabel the truncated 5th wave and 4th wave into an extended 4th wave bear market correction. http://ewminteractive.com/elliott-wave-patterns/ The indication here is for a significant chance of a sharp upward move.
Disclaimer: I may hold a position in XMR (Monero), XBT (Bitcoin) and / or NMC (Namecoin). This should not be construed as investment advice. Anyone considering an investment in crypto currencies should consult their investment, legal and tax advisers. Investment in XMR or other crypto currencies may lead to a complete loss of funds.
Disclaimer: I may hold a position in XMR (Monero), XBT (Bitcoin) and / or NMC (Namecoin). This should not be construed as investment advice. Anyone considering an investment in crypto currencies should consult their investment, legal and tax advisers. Investment in XMR or other crypto currencies may lead to a complete loss of funds.
Or are people buying before Risto's clients do?
That is the plan, to give the opportunity to buy first to the people who know about Monero, and when the price is higher and there is more liquidity, then activate the wealthy guys.
Gotcha. It's interesting what the words of a rich man can do to the market
Out of curiosity what wallet do you guys use? I've been using the full bitmonerod wallet. Is there any reliable open-source good alternative for Windows?LightWallet is open source (python) for Windows. It uses the either the same bitmonerod full node or a remote node but adds a GUI.
More info on wallets here: https://xmrmonero.com/news/choose-your-wallet
Someone dumped 38,000 monero around 0.0014, they have to be shitting bricks right now.
I don't know about that. There is a good chance this was a profitable exit for a speculator. 25% gains are nothing to scoff at. Also, this trader might keep a portion of Monero as longterm investment, but have no argument against realizing a 25% gain on speculative buys made made over the last month or so.
Someone dumped 38,000 monero around 0.0014, they have to be shitting bricks right now.
Not everyone in the market is a speculator. And if you now try to sell 38k, the price will go to 0.00128.
The rise looks strong, but can be shattered easily. Just as quite small buys also make big moves.
Or are people buying before Risto's clients do?
That is the plan, to give the opportunity to buy first to the people who know about Monero, and when the price is higher and there is more liquidity, then activate the wealthy guys.
Well I am glad I put entire paycheck to XMR a month ago. I hope XMR is going places.
Someone dumped 38,000 monero around 0.0014, they have to be shitting bricks right now.
Or are people buying before Risto's clients do?
That is the plan, to give the opportunity to buy first to the people who know about Monero, and when the price is higher and there is more liquidity, then activate the wealthy guys.
Gotcha. It's interesting what the words of a rich man can do to the market
Out of curiosity what wallet do you guys use? I've been using the full bitmonerod wallet. Is there any reliable open-source good alternative for Windows? Or are people buying before Risto's clients do?
That is the plan, to give the opportunity to buy first to the people who know about Monero, and when the price is higher and there is more liquidity, then activate the wealthy guys.
Quote
Last Price
0.00161004
0.00161004
What is going on here? Is Risto already buying? Are people stoked about http://xmr.to ? Or are people buying before Risto's clients do?
So what's the goal for the latest price rise?
I don't think there will be any serious resistance until we reach 0.002-0.003.
Most early XMR adopters are still underwater until that point, and after holding on to their losses for so long, they are not easily shaken.
Most early XMR adopters are still underwater until that point, and after holding on to their losses for so long, they are not easily shaken.
There will likely be some profit takers from the long period of accumulation at <0.0015. Also, increasing price will create resistance from more miner selling (likely in the same sort of price range you suggest). If the price doubles the daily coins mined grows to around 10K USD. We don't know how much capital is actively stacked up trying to get in but 10K/day or 300K/month vs. 5K and 150K could be a very significant difference.
Even now, sustaining the price single-handedly would take quite a bit of capital:
$240/BTC * .0015 BTC/XMR * 17000 XMR emitted / DAY * 180 DAYS = 1.10 million dollars
Of course, it won't be single-handed. The market is quick to recognize a sustained uptrend, especially when other competitors such as LTC, BTS, DOGE, PPC, NMC remain in brutal bear trends. When one alt turns around, be it Ripple or Darkcoin, all eyes move to it, and the money follows. Others pile on. I think it will take far less than 1.1 million dollars to move the price up several multiples once the greater cryptocurrency community finally sees what XMR is. If you ask them today about privacy-coins, they can only name Darkcoin and Zerocoin, and they don't know the difference between them. They don't know what's going on. But they're going to find out. If there's one thing that speaks, it's money.
but Monero will need the added utility by that point in time to keep people in it.
for all these newcomers, if they ever come, the blockchain will still be in memory, mymonero.com will still need plenty of explaining to people and bounce a bunch of potential users
I don't think there will be any serious resistance until we reach 0.002-0.003.
Most early XMR adopters are still underwater until that point, and after holding on to their losses for so long, they are not easily shaken.
Most early XMR adopters are still underwater until that point, and after holding on to their losses for so long, they are not easily shaken.
There will likely be some profit takers from the long period of accumulation at <0.0015. Also, increasing price will create resistance from more miner selling (likely in the same sort of price range you suggest). If the price doubles the daily coins mined grows to around 10K USD. We don't know how much capital is actively stacked up trying to get in but 10K/day or 300K/month vs. 5K and 150K could be a very significant difference.
Even now, sustaining the price single-handedly would take quite a bit of capital:
$240/BTC * .0015 BTC/XMR * 17000 XMR emitted / DAY * 180 DAYS = 1.10 million dollars
Of course, it won't be single-handed. The market is quick to recognize a sustained uptrend, especially when other competitors such as LTC, BTS, DOGE, PPC, NMC remain in brutal bear trends. When one alt turns around, be it Ripple or Darkcoin, all eyes move to it, and the money follows. Others pile on. I think it will take far less than 1.1 million dollars to move the price up several multiples once the greater cryptocurrency community finally sees what XMR is. If you ask them today about privacy-coins, they can only name Darkcoin and Zerocoin, and they don't know the difference between them. They don't know what's going on. But they're going to find out. If there's one thing that speaks, it's money.
I don't think there will be any serious resistance until we reach 0.002-0.003.
Most early XMR adopters are still underwater until that point, and after holding on to their losses for so long, they are not easily shaken.
Most early XMR adopters are still underwater until that point, and after holding on to their losses for so long, they are not easily shaken.
There will likely be some profit takers from the long period of accumulation at <0.0015. Also, increasing price will create resistance from more miner selling (likely in the same sort of price range you suggest). If the price doubles the daily coins mined grows to around 10K USD. We don't know how much capital is actively stacked up trying to get in but 10K/day or 300K/month vs. 5K and 150K could be a very significant difference.
I don't think there will be any serious resistance until we reach 0.002-0.003.
Most early XMR adopters are still underwater until that point, and after holding on to their losses for so long, they are not easily shaken.
Most early XMR adopters are still underwater until that point, and after holding on to their losses for so long, they are not easily shaken.
Over 33k moneroj bought in 10 minutes. I wonder 
@ 0.00160 now
The HR has also gone up from what it has recently been.
I just received more btc just now, oh well
@ 0.00160 nowThe HR has also gone up from what it has recently been.
I just received more btc just now, oh well
The break of the long downtrend:
Note: this is drawn from the 0.01 top, if you drew it from 0.0051 it broke as well.
Note: this is drawn from the 0.01 top, if you drew it from 0.0051 it broke as well.
Everybody is invited to prove me wrong in the field. To fire a bullet, enter any amount in the box and click SELL. That'll teach me
Someone seems to have accepted the challenge and dumped 30k-40k XMR
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