Monero to test long-term support level?

POLONIEX:XMRBTC   Monero / Bitcoin
We had previously expected XMR to make a significant move upwards due to:

(1.) BTC             pulling back;
(2.) XMR wallet on Jaxx, release scheduled for 21st Nov


(1.) Due, probably in large part, to real world economic factors such as Yuan devaluation, Indian demonetisation and a run to an alternative 'safe haven' while gold             and silver             turn bearish . BTC             is looking strong again and is continuing it's climb up and attempting to punch through resistance around $760.
(2.) Jaxx have posted a progress update which suggests that the planned release of their XMR wallet on the Jaxx platform may be put off till an indefinite date
(3.) Head & Shoulders pattern suggests a move down.
(4.) Bearish flag suggests a move down.

For these reasons, we can expect XMR to continue a bearish decline until interest is rekindled by the scheduled hard fork on Jan 5th.
Order cancelled: XMR broke out of bearish flag / head & shoulders pattern as BTC continues decline in price and rumours circulated that Coinomi would be including XMR in their wallet platform in the future.
These opinions shouldn't be considered as trading advice. Always conduct your own research before making a trade. And only invest what you can afford to lose. Only the whales know which way the waves will flow... and sometimes even they get it wrong!
January 5th
@TahirKhan2a, thanks, I will amend :)
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