Bitcoin Breakout! Monero on Fire!

Bitcoin Breakout! Monero on Fire!

Bitcoin has closed outside of our channel to the upside so there’s a point for the bullish case. The weekly close is also very bullish. Since we are still overextended, we are trading in a very tight range as traders decide which direction we are going. The move tomorrow outside of today’s candle will likely dictate the direction we take in a decisive way. Monero has built some incredible structure over the past few weeks! We got our higher low and retested our last swing high and broke above it. We did come down and retested the line to establish it as support and now we are off to the races! With a close above the 50 day sma, a retest to establish the 50 as support yesterday, and now trading above the 50 week sma & 200 day sma, XMR is lighting on fire for a solid run. It looks amazing right now.

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