Often, this graphical pattern ends sadly for the bulls.
The minimum was set at $ 240 - at exactly the half of the absolute maximum at $ 480
If the price does not return to a $ 370 mark or higher, it will be a Down-trend picture.
If it does return, then it would be a flat.
To ascertain the resumption of a growing trend, it is necessary for the price to overcome the $ 480 mark.
We downgrade recommendation for Monero from Buy to Neutral. That means that we recommend closing the positions and take an observing position.
In the trading slang, this is called "sit on the fence."