XMRUSD possible scenario for thre next days/weeks
Monero / Dollar BITFINEX:XMRUSD
Best case scenario: The price continues going down to make a double bottom , deeper down than the last low ( Daily Chart ) but not too much deeper. A bullish divergence appears on RSI . The bollinger bands are already constricting, showing that something big is coming, normally we don't know in which direction but look at the RSI oversold peak and compare to the other times when RSI was oversold. I'm expecting a reversal of the downtrend. I would enter long if the double bottom forms and the divergence appears.
Please note that this is not intended as an investment advice. I post this basically for myself. I'm a beginner learning Technical Analysis . Thanks.
If you disagree with anything I would be happy to read your comment and learn from you.