ðĨ XMR Massive Falling Wedge: Consolidation Expected
In my previous XMR analyses I've been talking about a huge bearish channel it which this token has been trading in. After a failed break out, things started looking bearish again.
And here we are. Almost 6 weeks further, and still going down. On a positive note, XMR has formed a falling wedge, which is classically a bullish reversal pattern.
In my view, it's likely that XMR will keep trading inside this pattern. A break out will be more likely in the next few weeks. Keep in mind that the direction of XMR's break out will be highly dependent on Bitcoin's trading direction.
And here we are. Almost 6 weeks further, and still going down. On a positive note, XMR has formed a falling wedge, which is classically a bullish reversal pattern.
In my view, it's likely that XMR will keep trading inside this pattern. A break out will be more likely in the next few weeks. Keep in mind that the direction of XMR's break out will be highly dependent on Bitcoin's trading direction.
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