SUMMARY
Monero (XMR) has risen recently, just like all of Cryptosphere. However, the current correction is already shaping out to be a downward wedge. Looking at the preponderance of past fractals, it's not a surprise. I believe the current minor correction should pattern out a much smaller wedge (white) from which a breakout would resume the uptrend.
The overarching pattern is shown below with the purple lines. Check out the huge symmetrical triangle within which are embedded the ABCDE (blue) waves. Now, this really represents how an Altcoin corrects. It uses a scheme of patterns that allows the correction to be taken slowly and as long as possible! The declining volume is also supportive so that when blue E completes, the breakout in both price and volume should be a sight to behold.
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I read your analysis and I am still waiting your new analysis for DogeCoin. I love DC very much and it wiill be the next potential coin in the world I think.
Thanks for your current lost @haejin.
Keel steem On.
Regards
DASH and ZEC are in similar positions. All the privacy coins have struggled since Japan banned them.
@haejin have you been seeing a lot of larger degree trends patterning out like this across the entire cryptosphere? It seems to jive well with your July popcorn symphony timeframe. I've been trying to discern how you came to that rough timeline estimate.
No one can deny this analysis: there is a major symmetrical triangle suggesting continuation pattern in the bullish move and... in the shorter term, we're about to breakout the descending pennant.
However we need a serious spike on volume to see where is headed.
Hey m8 can I get some of that money?
https://steemit.com/knowledge/@undergroundnews/the-steemit-experiment-i-have-a-dream
Your analysis are usually apt and there is proof of authenticity
I installed a Wordpress plug in that mines Monero via Coinhive. I removed it. And, now I feel like I can be better assisting the blockchain. I'm interested in mining via my websites. But, don't have a lot of experience in the process. What systems mine for Monero and do you know any DTubers with some start up tips and tricks?
Coins mentioned in post:
Privacy coins like Monero will never vanish completely, there are always needs for their intended purposes.