this is it?
No need for traps and squeezes :)
1. The ATH@ $4979.90 was weak, didnt touch or break the channel. So the grey uptrend channel is giving in and we got the curved orange downtrend channel 2. The second teal colored wave would proportionally even still be less of a retrace than in June: $2980 $2480 (-17%) $2120 (-12%) September: $4979.90 $4001 ...
About one year ago Monero started a wild Rally. It timed right after hacks/thefts (theDAO, ETC, Bitfinex theft and ETC margin settlements ) - and with the resulting bitcoin crash. And it was the main/only annoymity supporting currency. (Now there is also ZEC and more to come.) "Alphabay" supporting Monero helped it too.... Recently Alphapay was taken down...
Sheet music to be played with a lot of FOMO at the beginning but a FUD baseline catching up continuously
Probably best to Sell Above/Near Red trend bow and buy Near dark green long term trend.
I'm just drawing the expectations of people, not suggesting 1. the starting last dead cat bounce since the trend broke several days ago. nor 2. the bull trap / "back to the channel" neither 3. a third iteration of bitcoin Banana which would just be an evil shakeout. Who dreams of rotten, moldy dust clouds?
Good day. Crash can happen suddenly. Now price is below many potential resistance levels and maybe after weekend pumping again wont pay off either.