recent move up on bitcoin is now hurting short sellers..
sentiment for crypto : undecided
my overall sentiment is that we are not at a market trend shift point yet, and that we need to consolidate to show strength if we are to confirm a reversal.
Now, looking at the monero / btc pair on the weekly, you can see accumulation down in that range, breaking out, now we're stuck in a .
From the crypto boom to the bust cycle beginning in January, Monero here didn't really have a big problem price wise, but once we headed up on that low push to April, we did mid April, resulting in a -40% drop.
Now, at the bottom of this pole, looking like a potential consolidation flag, but all depends on how btc plays.
Looking to rebuy / long just about that 1.8M level, targeting around 4M sats to take some off.