E Triangle On Monero Points Higher - EW Update

Has Monero finally finished that bullish triangle in wave (iv)?! If we get a decisive break back above previous wave »d« and 72 region, then we can easily expect a rally for wave (v) towards 80 area. Invalidation level remains at 56.

XMRUSD, 4h

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Triangle correction in Elliott wave theory is a continuation pattern, which points into the direction of the trend. In our case we expect to see one more leg higher, into wave (v), once the triangle fully develops.

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