- Monero currently in an ascending triangle, given current downtrend the expectation is for this to be a consolidation period before proceeding downwards
- Possible upside movement should be accounted for
- Either way, wait for a breakout to either side with a safe SL just under broken trendline
- Set TP at 50$ deviation from broken trendline (Derived from measuring triangle at widest point)
Comment:
Fakeout on shorter time scale, but next attempt will likely succeed given uptrend on all other alt coins