Monero has been hanging around the 8.7 mBTC to 9.3 mBTC range for the last couple days.
If it passes above the fib. level at 9.3, it's likely to break out to around 10 mBTC as is indicated by the WaveTrend Oscillator below the -50 level which is a buy signal, along with the RSI indicating Monero is in an oversold state.
However, if we see Monero pass below the strong 8.65 support level, it could very well fall to around 7 mBTC.
Watch for it to exit this range and make your trade accordingly.
If it passes above the fib. level at 9.3, it's likely to break out to around 10 mBTC as is indicated by the WaveTrend Oscillator below the -50 level which is a buy signal, along with the RSI indicating Monero is in an oversold state.
However, if we see Monero pass below the strong 8.65 support level, it could very well fall to around 7 mBTC.
Watch for it to exit this range and make your trade accordingly.
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In 5 minutes we saw Monero fall by over 7%, breaking right through the 8.65 support to a low of 8.1 mBTC. If you went short, I'd say this is a reasonable place to cover.
