XMRBTC STRONG RESISTANCE WITH HEAD AND SHOULDER FORMATION

As you can see in the chart, Trendline Resistance and Andrews Pitchfork Resistance working as a strong Resistance and rejections came twice

Btc is gaining dominance back again because of BTC Halving

Possible Head and shoulder formation in play with strong support needs to hold around pitchfork median line and horizontal line

If someone is looking to buy it against bitcoin , i would recommend buying at confirmation line with a very high probability of success.

If head and shoulder formation will complete and break i am expecting prices to go further down towards the Pitchfork last line of defense.

Trade this pair cautiously along with other pairs with btc as Btc is running the show.

It doesnt mean that XMRUSD pair will not go up, this analysis is in relation to bitcoin

Thanks,

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Komentarz:

At the moment, the market is respecting the support. if it holds Confirmation buys will trigger