Actually, I was more interested in the BTC market cap, but the site just doesn't show it. Meanwhile, for now, the market agrees with me. It could reverse soon  . Funny enough, RS charts did not change!! Go all in NAUT, thank me later... I love these threads. If you'd have gone "all in NAUT" on 8th July you'd have lost 50% of your funds. "thank me later"....yeah right But then if you read the thread you would see that klee said the ideal entry point was 35k. That looked a ridiculous claim when NAUT was at 70-80k but the price is coming in to that region where there is strong support. Far from wanting to be a fanboy, it's not klee's fault if you don't read things properly. I read his 'go all in' and I made the obvious judgement that now was not the time. Well, we can argue both ways. He did say all-in NAUT, so his advice was for that moment. It was only after your more inquiring post, 3 days later, that he said 35k would be a good entry point. This is pretty much the reason everybody should do his due diligence before investing/trading in anything and also set stop losses. Maybe klee was more specific on his service slack, but for someone reading only the thread, that definitely was not good advice at that time. Just like "buy NXT" turned to be a great call. You can't win all, I guess. |
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My chart suggests the following: we can count 5 waves up so an intermediate term impulse could be finished. This would mean a rather deep retracement for the 2nd wave, between 0.5 and 0.618 fibs, or even deeper, as XMR usually likes them. In this scenario, I would expect the low to be in between the end of july and beginning of august, presenting the best buying opportunity since the <.001 prices 7 months ago.
Of course, there is also the possibility that we just go up from here, making highs higher than .0033. In my opinion this has a lower probability than my first scenario due to bitcoin's triangle breakout.
Good luck!
This seems to come down to where the end of the corrective wave (2) is. Has it completed already or is it still in progress? .0043 is (1) in my chart, .0016 is (2), they are completed. And now we have also completed a smaller degree wave 1 topping at .0033, which means the following 2 will retrace at least 50%-61% (but it can go even lower), roughly around .0024-.0022, where the retracement fib lines are. The chart is invalidated if a) price goes above the .0033 before it retraces (but even so, it could be just a variation, where the wave 1 hasn't topped yet, but will not go up a lot more) or b) price goes below .0016 (start point of this proposed wave 1). This would be very bearish, meaning that this upwards move was a dead cat bounce. It would also mean LLs. I find this possibility highly unlikely both because of the risk-on approach towards the crypto sphere in general, and also everything going on in the XMR world. |
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 My chart suggests the following: we can count 5 waves up so an intermediate term impulse could be finished. This would mean a rather deep retracement for the 2nd wave, between 0.5 and 0.618 fibs, or even deeper, as XMR usually likes them. In this scenario, I would expect the low to be in between the end of july and beginning of august, presenting the best buying opportunity since the <.001 prices 7 months ago. Of course, there is also the possibility that we just go up from here, making highs higher than .0033. In my opinion this has a lower probability than my first scenario due to bitcoin's triangle breakout. Good luck! |
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Good calls. Lets see this NAUT. Getting in around 35, aye?
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 Time is running out for this correction, just as volume is drying up and the 4h BBands are tightening. Primed for another move soon, so either up or shit the bed. |
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Bitfinex shorts just got to a new ATH (expressed in USD).
Good luck boys!
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Some short term chart speculation, since this thread is missing a lot of it:  Happy tarding! |
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Actually, I was more interested in the BTC market cap, but the site just doesn't show it. Meanwhile, for now, the market agrees with me. It could reverse soon . |
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Hello, Nice to see you back now as your selling targets are approaching. I've not given any targets so you must assume I have targets in the same area as last rally. I don't. When the drop from .0042 took place, I remember you posting that you were a little bit unhappy as you could've sold more, and that if the price revisited .003s you'd consider selling more. My actual sell the dead cat target was lower, in the .0026-28 zone, where I only managed to sell very little, sadly, as there was just no decent bounce; selling the bottom was very possible so I tried avoiding it at all costs. Regarding your story, I felt the same: I had set my mind to buy a certain amount of bitcoin's worth of XMR, but when the price was hovering around .001 I simply didn't have the balls to do it, and ended up buying only a fifth of what I had wanted. Such is life |
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I am bringing fundamentals because XMR 'sucked' all it had to suck while NXT 'leaked' all it had to leak.
So market caps will reverse now (as weekly RS did, see below).
The shorter term RS posted above shows that even when NXT bottomed was still stronger than XMR.
Imagine now, that there is no NXT but Ardor, a new coin!! (Fundamentals again).
You really thing XMR can compete (even in market cap RS) with a new coin FOMOing? Some fundamentals (new coin) ARE Technicals.
One has to look at the individual P&F charts (NXTBTC, XMRBTC) too.
NXT worst day was 900 satoshi, I am sorry for you but it WON'T go lower, not under these circumstances (fundamentals and TA).
While XMR will struggle to break 300-350 area.
So I don't see the catapult you are dreaming but a quadruple top break.
Also, even after yesterday's NXT dump and XMR pump, RS is still the same.
You play the column here (more long term chart). Now you should be in NXT, get over it.
If I had the data I could do a market cap RS but not easy as you understand. In the future I will do stuff like this, now I have some other projects to finish..
All P&F charts at top look uber bullish, on bottom uber bearish (Dorsey Wright). Time for a reversal (weekly RS says so too).
So we have 2 assets, 1 was in severe bear market but still stronger than the other, it is reversing and we will be on the loser?
Play the winners.
PS: You did not answer me on your trick to compare the 2 coins market caps in different tops (and not both on their ATH).
You are working under the premises that NXT won't go lower, XMR won't go higher, premises which may or may not be correct. You are also advising buying a dead cat bounce (until proven otherwise) over to buying a coin that's constantly making higher highs (and ATHs in market cap terms). And while I appreciate the Dorsey Wright quote, and consider it to be true, the bottom and the top are simply not evident until after the fact. So what might look like "THE BOTTOM" or "THE TOP", might only be a short stop in the direction of the dominant trend. So we have 2 assets, 1 was in severe bear market but still stronger than the other, it is reversing and we will be on the loser?
Play the winners. If one just got out of the bear market, surely it needs time before the wheels start spinning at full velocity. The other one already gathered momentum, and maybe, just maybe, is ready to burst. Regarding the market cap point that you're making, you simply take arbitrary numbers, multiply them and poof, there goes your conclusion. For instance, you use NXT at .00015, when the actual price is "only" 5 times lower... so you're proposing a 500% increase in price based on what exactly? This is my last post on the subject, happy trading. |
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NXT bottomed recently.
XMR 1 year ago.
XMR will struggle to break 350k
NXT will go at least 5000k
The RS chart says NXT bottomed too.
Why should XMR go nuts? Because GUI?
NXT has an ICO going on and various big agreements will begin to come in light.
Recent peak in NXT is not just to get compared with XMRs peak (it was a spread double top too, so it is relatively safe to say that we know the XMR top, as we know that the NXT top is between 10k-15k). Try with NXT at 16k satoshi....
So let me put it right:
15k * 1bn = 15 trillion satoshi market cap for NXT
400k * 12m = 4.8 trillion satoshi (and I should have put less than 12m)
Go figure...
Why are you bringing fundamentals into this? Weren't we talking purely TA? RS chart shows triple bottom break with chances of catapult. I'd rather wait it out than buying NXT with my XMR. Everything else you've written is purely speculation that has no basis in TA. Sure, support and resistance levels are there, and doing their job, just until they're not, so I'd rather not make clean cut statements about tops and bottoms, because you never know. Good luck trading, as long as we're making more bitcorns, 'tsall good. edit: @macsga: I did bring another TA method into play, one which helps determine supply and demand probably much better than price does. XMR market sucked in millions of coins from the huge emission from the last years which speaks demand (grass-roots, manipulated, I don't know/care/can't gauge, but someone was there to buy those coins), NXT shows a 4 times smaller market cap in the same period which shouts "nobody wants this coin (for now)". Pretty simple if you think about it: demand => higher prices, lack of demand => uncertainty. edit2: how about a RS chart based on marketcap and not price? Would that be possible? |
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I'm arguing that there are also different metrics that are useful to gauge which alt currency one should be in, if any.
My point is that NXT market cap was 3.7 times smaller at the recent peak compared to the ATH (in both price and market cap), while XMR's cap was 4 times higher at the recent peak, compared to when the price made the ATH. What this means both for the past and for the future, I will let you and the other readers figure out for yourselves.
Just make sure that you're in before that O column scratches your nice wooden floors.
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I'm expecting that trend to reverse rather soon. Better hold onto your hats boys!
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Edit: Just focusing on Monero's price over the last two years and not looking at the capitalization rate and inflation rate misses the whole picture.
Put the cat back in the bag guise!!! I barely managed to accumulate half of my long-term goal, not double as I'm supposed to! |
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You'll soon see why. Just gotta be patient.
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Target on my chart is between .0067 and .01.  I'll post the bearish option later, when I get access to my charts. |
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Wow, I know Monero's even currently undervalued, but this thing needs to chill for a bit.
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Managed to remove my asks in time, just barely. This train ain't stopping more than a few minutes before a new HH is found.
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