Monero Rally Over?

This is an update on this post, where I said:

This breakout appears at the onset to possibly be of the variety that doesn't allow traders the opportunity to jump in.

I also posted this image:

The move happened very quickly (which is normal in many cases), more than tripling in price over the next few days, but now appears to possibly have ended. The 10 dma has been broken to the downside, daily MACD has turned negative, and a possible down trend appears to have formed. However the move happened so quickly that a rebound to slightly newer highs would not be out of the question. This also appears to be a five wave impulse that has ended as @maarnio has suggested.

The big picture still looks bullish, especially if consolidation happens near current levels without a strong retracement. I would expect at least a few months of consolidation, possibly longer. 0.0042 is the level to consolidate above, which is a long way down. If this level is significantly breached to the downside, then that would be a very bearish sign and could mean that monero won't have a significant place in the digital asset space. 0.0042 would represent an 84% decline from the highs and a 76% decline from current levels, so monero has plenty of room to breathe.

In any event, monero is currently up about 17x since the beginning of the year and has been up as high as 25x in terms of bitcoin. That would be considered a win under any circumstances so it would be prudent to at least take some off the table. I have sold 90% and kept 10% just in case of the off-chance that monero quickly jumps to much higher levels and I am unable to catch the breakout. At that point, I will likely just hold what I have and be thankful for it, especially if monero becomes the default, privacy-oriented digital cash, which some folks have suggested.

Disclaimer: This is not advice of any kind.