Chart Analysis: Monero

As you can see, on November 8th, Monero shot up through the cloud with ease. It has since surged further to the point of being a bit oversold. The stochastic shows waning momentum, and the Fib Re-tracement gives us a support level at .01473960. If this level is breached further downward, the flat top on the cloud should act as the backup support level.

The crossover of the Tenkan and Kijun lines show perfectly where the change to a Bull Market took place, and the immediate rise in price took off from there. The more conservative trader would have made out very nicely (providing they had a solid exit strategy). The riskier entries would have made a good amount more, but again, its a riskier move when entering the market from underneath a cloud.

The Tenkan and Kijun lines clearly show that Monero is still in a Bull Market. Where these same lines are perfectly flat, they represent that consolidation is coming for the next couple of days or so. The candles being above the cloud help to confirm the bull market.

The resistance level of the most recent high might be tested again somewhere around November 12th, possibly moving up past this last run.

          

Its important to note that investing involves risk and that all funds can be lost.  Never invest more than you can afford to lose.  And even then, don't invest anything at all if you can't own your own decisions.  No one is forcing you to invest.  That decision is solely yours.  My charts are not predictions of future events.  They are for educational purposes only. Bla bla bla  ;-)