After recent consolidation following prior spike, XMR (Monero) relative to BTC (XBT on Kraken) is nearing short term pennant completion and midterm resistance. Clearing the mid term resistance should enable XMR to advance toward longer term resistance near 0.025 from its current price level near 0.020.
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The trading pattern has morphed: The pennant has become a flag.
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Earlier breakout today met by HUGE overhead supply/resistance at 0.0207 has crushed the current price to or just below the mid-term rising support line. Unless this turns out to be a bear trap (TBD), idea is withdrawn/canceled.