xcache
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POLONIEX:XMRBTC   Monero / Bitcoin
lots of cryptobulls who have been hurting the last few months now coming out in raw delirium..
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 bull channel .

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 volume push to April, we did tweezer top 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.
amen...target makes sense but ultimately wouldn't be surprised if we break through into an epic rally...over a year of consolidation could mean a huge move in the works.
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