Blorenz

Bear market Similarities

BITTREX:XMRUSD   Monero / U.S. Dollar
Loving the similarities of this bear market - Looking at the previous pump & correction cycle... we note that the last rally got to the 3.618 extension level, then came back to 1.618 where is found support. But the long-term trend is definitely still in tact, and I am waiting patiently for that 1.618 to come in as support this time around as well. Bears have this channel control at the moment, but this can change in an instant - the break out of this channel will signal another 4.618 run - towards $1,000 USD level. This correction gives a great opportunity to start filling up the bags. One thing is for sure, when the cryptos turn bullish again, this will be an out- performer, so i will be watching carefully.

Good Luck.
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