XMRUSD Buy the pull-back for $590.

Monero is seen very effectively on the Fibonacci Channel formation but since August 2020 has been trading within a Bullish Megaphone pattern.

The peaks have matched well with the Fib levels of the Channel with the current one being at 2.5.

Every peak is on the 1.618 Fib extension from the previous bottom.

Also every peak is made on or right after the LMACD forms a Bearish Cross.

Right now the LMACD has made a Bearish Cross. Assuming the low of this phase was made on April 23 (otherwise if a new low is made you'll have to readjust the Fib and calculate the extension from that point) and since the Higher Highs trend-line of the Bullish Megaphone was reached, XMRUSD is most likely on a peak. The pull-back should bring a new Higher High at around $590.


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