XMR - Monero | Bubble Pop ScenarioDemonstrated here, we see Monero's tendency to make 76.4%, 61.8%, and 50% retracements from the tops. After a tremendous rally, this scenario assumes that the move under the 0.0185 BTC level has signaled the end of the rally and the start of a trend reversal.
Drawing a fibbonaci retracement from the all time low to the high at .0185 BTC shows the the 1.272 level (and the wick to 1.414) as a likely point of reversal to the downside.
Areas to watch for support are 50% from the current top (~0.013 BTC) and 61.8% from the top (~0.01).
A continuation of the uptrend in BTC should solidify this position, with XMR showing signs of an inverse relationship, Any large events in the BTC space that could cause a steep decline in BTC could invalidate this reversal to the downside in XMR, or cause a quick spike to double top at the ATH and then continue downwards.
