🔥 XMR Massive Falling Wedge: Consolidation Expected

In my previous XMR analyses I've been talking about a huge bearish channel it which this token has been trading in. After a failed break out, things started looking bearish again.


And here we are. Almost 6 weeks further, and still going down. On a positive note, XMR has formed a falling wedge, which is classically a bullish reversal pattern.

In my view, it's likely that XMR will keep trading inside this pattern. A break out will be more likely in the next few weeks. Keep in mind that the direction of XMR's break out will be highly dependent on Bitcoin's trading direction.