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XMRBTC

EW Analysis: XMRBTC May Break 2019 LowsHello traders! Today we will talk about XMRBTC and its price action from Elliott Wave perspective. XMRBTC is sideways since 2019 and it's ideally forming a big bearish triangle pattern in wave "iv", which means that we should see even more weakness and sooner or later we may see new 2020 lows that can send the price down to 0.0060 - 0.0050 area, if not even lower. XXX/BTC crosses are highly dependent on BITCOIN.Dominance, which we still see it bullish and it's looking for more upside, so BTC will most likely stay stronger than ALTcoins and most of XXX/BTC cross pairs may remain under bearish pressure. Be humble and trade smart! If you like what we do, then please like and share! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
XEducation
by ew-forecast
3
Why volume is not always an indicator of valueAs you can see in XMRBTC the volume has been increasing steadily over the years, (possibly fake volume), this leads people to the conclusion that a lot of buyers are present when in reality price is steadily declining and care should be taken when choosing to invest. My conclusion is that volume has little to no correlation to price action, and analysis should be made using various other TI (linear regression, Fibonacci zones for example). First educational post feedback is nice.
XEducation
by Bixley
3