, we are at number 14. monero with the ticker xmr it's 28th of october 2020, wednesday, the 30th of the week for monero against bbc. Last week we were saying that we are going to find some resistance at the noisy area right. There was a noisy area over here and so yeah we've identified it and said we kind of hit the tip of the noisy area. We didn't really break into it. Yet we hit the tip and we are seeing a retrace small retrace how much lower we're going to retrace. I have no idea, i see a shooting star here, another shooting star. Are we going to drop much lower? Potentially, if you see a mountain range here being formed, oh boy, we could drop much much lower for monero against bdc, so things are just not looking good for monero at this point of time, uh so i'd like to preach caution. Yes, monero has fundamental uses. Yes, because it is a privacy coin – is the largest privacy coin in the world. Yes, it is yeah. I think i got it right, so it definitely has a use case because of the way that we are moving towards the future. Everybody is going to be tracked. Um, because you know i i can imagine um if i were to fly to let's – say, for example, new york right very likely. The government is going to want to know if i have taken the coronavirus vaccine or not so there's, going to be like a tracker kind of thingy that i'm going to have to install and yeah.
It is going to be very troublesome for a while. I think traveling is going to be very troublesome and so cross country travelling is going to be very troublesome even for right now. If i wanted to leave the country, i have to take a a a test and i need to have a certificate before i land on another country and, oh, my god, yeah it's, very troublesome. So as things progress further and the tech catches up, i think eventually privacy is going to be an issue you know, and so that is where monero comes in right in the future. So i think that's why it is rising in value, maybe yeah i'm, not exactly sure, but um yeah. There you go. I still feel that potentially we could still drop lower right but i'm, not exactly sure yet so yeah it doesn't. Look like any tradable chart pattern to me, so be very, very careful about going to a trade too soon, all right, let's move on to monero against usd, but before that, please give this video a like. If you enjoyed it subscribe to the channel – and let me know what you think about monero in the comments below for monero against usd yeah we've been rising, there is no clear bullish chart patterns and we continue to rise and rise and rise and rise and rise. I can't i can't count. This is either one two three four five. Yes, potentially i can't really count it, but um there should be a retrace somewhere somewhere close by somewhere over the rainbows yeah bluebirds fly.
Is that lyrics? Okay, i think i got it wrong. Um yeah there's, already a double bearish divergence, a higher high on the price, but a lower high on the macd, a lower high on the rsi. So potentially we could be seeing some sort of a reversal for monero against usd or we could still continue higher right. We saw a uh bearish divergence over here right, uh, higher high on the price but lower higher than mcd lower high on the rsi. Yes, we did correct, but eventually we continue rising higher. So i think the same thing could happen here. We could correct. We could continue higher but i'm, not entirely sure, no, because there's, just no tradable chart patterns for monero at this point of time, so be very, very careful about going to a trade too soon, all right, i guess that's it for my monero technical analysis. Thank you very much for watching. I hope you enjoyed it.