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XMRUSD trade ideas

XMRUSD $174 LONG TargetLooking at the chart of Monero on the daily timeframe we can see that it’s in an obvious bullish momentum. Since September, XMR has consistently been rising in price after bottoming out at $86 along the monthly support. From here, the price gained $130 & $148 as support (both previously TP levels in my most recent XMR read) and has 1st touch rejected off of $165 monthly. Now it’s got the momentum again to push higher beyond $165 and here are my TP’s for heading long TP1 🎯 $165.41 TP2 🎯 $174.54
BITFINEX:XMRUSDLong
by kyer
4
Monero - Alt Coin Reality - More Bag Holders Than PublixSimply amazed at how many XRP fans are having their hopes and dreams crushed. Yes fill out that application and join the likes of Tron Holders who had champagne wishes and are now having Freddy Kruger nightmares. At least you have a closet full of coins in the event you need to wire transfer on the Ripple network to your account in South Africa for the next 100 years. Yet under the radar of the FURUS or at least not getting enough attention is Monero, and attention it deserves! More concerned about the hope of getting a 10000% return on crap coin, they are missing the long term value of alt coins that actually have a future. Most of us got caught up in the Alt-coin frenzy including myself. I once had more bags than Santa Elves and thought my sleigh was bound for greatness. THEN Well the 2018 market proved once again that markets are the ultimate picker of winners and losers. Yet some held on to hopes and dreams and instead of cutting their losses and buying Bitcoin when it was down, they opted to load up on more crap coins. Having been in the market for more than 5 years, I made the mistake of holding on to losers hoping they would once again return to glory. However this seldom happens with few exceptions. So with my bags of crap and down a whopping 30% in my portfolio I started cutting losses and buying Bitcoin mainly. Yes nobody likes to take a 50-75% loss, me included, but I would rather put what was left into a coin with potential, than hold for zero. One thing alts are best at is solving problems nobody really needs solving. Took me a while to realize this (Thank you Lennart) and though many coins claim to solve the next problem, it is more like trying to sell a desalination plant to the residents in Nebraska. A solution to a problem nobody needs, at least in Nebraska. First it is important to realize the difference between coin types. In My opinion there are two: 1) Fiat type 2) Utility type IF your coin falls into the latter, it is safe to say you are most likely going to be a bag holder. Sure the market is full of suckers so they are often ripe for trading, but for long term investing, they are likely long term losers. I am not loading up on subway tokens and therefore not buying any of this crap. I need a ride on the subway, I'll buy one, but to invest in subway tokens is silly. Then there are the hopeful Fiat currencies like Bitcoin Cash, which at one time was, "Going to surpass Bitcoin", was the real Bitcoin and yes I also thought that too, until the Drama evolved. Listen You get one chance to knock the king off his thrown and Bitcoin Cash failed to do so. I put this in mostly crap coin territory and don't take my word for it, look how other similar coins like LTC and yes XMR are doing vs BCH. We want to stick with those coins that are simply winning and one of those is Monero. Ethereum has still outperformed the major alts, but Monero is a decent 2nd and has been step in step with ETH along the way. So though ETH deserves a #2 rank, XMR is clearly making a run for the money. Litecoin is lagging a little, but still making a case for being #4. One could say look XRP way out performed LTC off the lows until recently. OK fair point, but I am not recommending adding to Litecoin either, and Litecoin has held up better during the recent pullback. Then there is Bitcoin Cash. Wow has underperformed dramatically. This is like your football team being 3-8 and you still hope for a playoff bid. Time to put the hope of this being the real Bitcoin to rest. So why do I like Monero? Monero falls into the Fiat type coin category but it has a unique use case with complete privacy. Unlike Bitcoin which can be tracked from wallet to wallet and eventually when converted to cash can be pegged to a person, Monero is private and untraceable. I know Dash and others have some features similar to Monero, but Monero is the King when it comes to privacy coins. So earlier today we closed out our last two alt coins Theta and BAT. Theta was a nice 10 bagger, BAT not so much about flat even. I am looking at where to put the money. Sure Ethereum deserves some of that investment capital, but I believe so does Monero! While most coins are struggling, selling off, or simply falling off the cliff, Monero is pushing a new interim high. Now is Monero going to replace Bitcoin? No, but there is a future for a discrete currency that is not traceable and the run is far from over. Nothing but a series of higher highs and higher lows, nothing but solid bullish momentum and great structure is simply a sign of continued buying power. Looking for a broader move to the low 200's in the interim. There are few coins I think will ever get back to their 2017 highs, and Monero is one of them. Any pullback into the 130's is a buying opportunity IMO, and I would take no exception to adding a little here and into any pullbacks. IF your alt coin is not leading the market it is simply a laggard. The challenge for the herd is the Furus around us won't admit they are or were wrong. They will keep pumping a tire with a hole in it and their followers, like sheep, join in and help with the pumping. My simple advice is stop investing in utility type alt coins. Take it or leave it, do what you want, follow the furus that will be eating crow today as XRP gets hammered, after all it is your money. Does that mean all alts are garbage? Kinda sorta, and sure there will be the exceptions, but taking the shotgun approach and loading up on alts is probably not the best thing. You like a project go ahead and throw a few bucks into it, money you don't mind losing. We did this with Theta, threw $110 into it, boom sold it for $1300 today. Did this make up for the alts we took losses on? Probably not. Some are still down 70-90% from their highs and it will remain that way which is why we exited them months ago. We took a swing trade with Monero a couple months ago and with the environment improving we are open to another if and when the setup is right. We have zoned in on a few coins we want to hold for the long term and Monero is one of them. Obviously Bitcoin is still the beast and it makes up the majority weighting in our portfolio, but there is always room for a good alt and Monero is one for consideration. In closing do not risk more money than you care to lose in coins like XRP, TRX and other crap utility coins. I know the SEC is the reason right? No it is the reality that they have no intrinsic value beyond the utility they support. It is still early adoption in Bitcoin and others, do not once again make the same mistake and think your 10 cent crap coin is going to be $100 in a year. Most likely you will be holding more bags than a Publix grocery store!
BITFINEX:XMRUSDLong
by goldbug1
26