Moon Time for Monero Again?

Hello everyone. I hope you all had a good Labor Day weekend! As usually happens on holiday weekends, the Cryptoverse saw some pretty hefty pullbacks over the last few days. Monero is one coin that has been down for several days in a row now. I think that could be about to change though. Let's have a peek.

Several things in this chart stick out to me.

1. The numerical indicator is on a 7(Bittrex Daily chart)
2. This pullback has just gone below the 0.50 Fibonacci Retracement
3. The price is getting really close to touching the 50 day moving average
4. The price is reaching previous support levels
5. The Stochastic Indicator is going green
6. Monero is awesome 😁

---

First, let's consider the numerical indicator. This indicator signals a possible buy after a red 9, and it signals a potential sell after a green 9. You can look over the chart and see that it's pretty close! There was a red 9 right before Monero's run up to 0.038BTC and a green 9 on the candle just before the reversal. That's pretty damn good! Well, in a day or so we may just get another red 9, and I'll be taking advantage of it this time!

Second, let's look at the Fibonacci Retracement on this move.

As you can see, the price just touched the 0.50 Fib on this red 7 candle. This tells me that we may see 2 more days of the pullback, and that it quite possibly could pull back to the 0.618 Fib at 0.21BTC. That's why I put the "Buy Zone" box there. I'll be watching to see if it gets there over the next couple of days.

The price is also getting close to the 50 day moving average, which would be a common area to see prices bounce. The 50 day moving average will also be almost right at the 0.618 Fibonacci Level. There is also previous support/resistance at the 0.618 Fibonacci. Things are starting to add up!

Finally, the Stochastic is also crossing and going green indicating price should go up soon. All these things by themselves aren't that significant, but when they all come together on one chart like this, it looks appealing to me. I plan to pick some up around the 0.02 - 0.021BTC level. Even if it dips a little after that, Monero is awesome, so I just want to get some more anyway! As always, keep your stops tight and trade safely!

---

Did you find this article useful? Please upvote and Resteem if you wish!

Special thanks to those who have donated and used my mining links and code! It is very much appreciated!

BTC: 1CXAVW4H2hLvsnor2SgwPfRYd586noDLbq
LTC: LUENAFUWDjoJhoFf3ShzBe9XU82wETkSku
Dogecoin: DNHjTrBssQx6v5u8W6hSrej9ocAX5ShGDb
Monero: 47PwackL2h6H7myZVjMAKfGEViXEHsYgHUup28BeKtEEasYg9MxB5RtaUktb5AUK69YbQ28EYCEe1LTnYcz5AkmFRU1rPWk

Dash: XjQUbmEAqxxMM6GfCV4TLzai947Lp7EUk5
ZEC: t1ZGnFx54UDW66d2rfSvcHMNYqpm8iraCMf
Ethereum: 0xBdAD8baB568f8C1f9F01830fC3B49B1abbD9f32D
ETC: 0x2f185ff241b543d6452455d4b73376b7958b5209
PIVX: DSBKpyUY6epRQmpaFesFFV3H93QTPmJmQQ
Burstcoin: BURST-XFYD-YU7K-9MC5-3GYMT
Golem: 0xBdAD8baB568f8C1f9F01830fC3B49B1abbD9f32D
Augur: 0xBdAD8baB568f8C1f9F01830fC3B49B1abbD9f32D

Disclaimer: I am not a professional. Trading is risky and you could lose money. Only invest if you're sure what you're doing.

Sign up at Coinbase and get $10 worth of Bitcoin free after your first $100(sell or purchase) with this link: https://www.coinbase.com/join/511fcbb9c9a6cbb41800003f

Thinking about cryptocurrency mining? Please consider using one of the following:

3% off at Genesis Mining with code: mAWnvI (let me know in the comments if you use this code so I can return the favor when I upgrade)

Visit cryptohwwallet through this banner to save 5% on your order!
Get a FREE T-Shirt at CryptoHWwallet.com with your order by using code: FreeCryptoTshirt.
Get a FREE T-Shirt with no purchase necessary(only pay shipping) by using code: MeisterFreeTShirtNoPurchaseNeeded