Another delisting for this currency has arrived, after the Asian OKEx and UpBit platforms, this time it's BitBay's turn that will stop the deposits in XMR already tomorrow while for the definitive closure of the market there will be time again until February 19th in 2020, the date by which traders will have to decide whether to sell their currencies or move them elsewhere. According to what we can see on the graphs, in any case, the crackdown wanted by the FATF against the anonymous cryptocurrencies is not particularly damaging them, probably also because these coins had already discounted the news before the communications of the delisting arrived from the of the various platforms; having said that let's see what happened to the quotations of monero over the last seven days and let's try to understand together what to expect for next week.

BTC / XMR bulls are tonics, bears are receding

This month it had opened on the edge of anxiety, with prices just below the pivot point, but the upward pressure had immediately manifested itself, bringing the price to test the S1; from here the bears trimmed the leg, causing the retracement that led me to error two weeks ago, but now we again went to test the S1 which, at this point, will not be able to withstand the bulls' push for much longer. Looking at the 7D chart we immediately notice that for weeks the construction of a bullish divergence on the RSI was underway, with the resistance that had been broken during the week between November 13 and 20, followed by retracement; MACD bullish on this time frame, as well as the parabolic SAR, we finally feel a little optimistic. After four days of parabolic bearish SAR we are back again bullish just yesterday, the momentum seems to be good, the MACD is getting ready to go bullish, so we again have a certain convergence of bullish signals. The ichimoku cloud is also very positive, with a nice bullish crossover of moving averages and the price that has once again popped out of the cloud, although the delay line still has not followed the feeling, frankly, is that it will soon.

Weekly forecast

Right now I'm bullish on monero, but I think this was clear for everything written so far; those who followed my advice two weeks ago probably still have an open position, so all they have to do is raise the stop loss a little so that, even if the bears reserve us the usual violent paw, the position it closes in the worst case scenario in the absence of losses. Those who have not yet opened a position on XMR would be well advised to wait for a break of 0.0077BTC in order to minimize the risk that the push of the bears will find new vigor. At this moment, a return to 0.0111BTC appears to be the most likely scenario, but always pay attention when working on anonymous coins because the results of the crackdown wanted by the FATF are quite unpredictable so it is always necessary to protect yourself by means of a stop loss.

Please note: this post is not intended to provide any financial advice on how to invest your money, but is for educational purposes only.