I am not sure if XMR is fully bullish now, but for sure there is no reason to be bearish with all the recent attention XMR got and which will attract more investors, contributors and perhaps exchanges too.
Nobody knows about crypto. Something drastic might happen overnight.
If the trendline shows high probability of bull market, the traders and speculants will open heavy long positions and build longs upon longs which creates sudden surge in the price.
On the other hand, the traders might want to short Monero and build short positions upon short positions (weak hands are probably shaken already) which will push the price down. However, there is not that much room to go down from here unless the project fails completely and the price goes back to sub 1 usd. The upside is infinity because a lot of coins are stored in cold storages.
The faster the rise, the less there will be coins for sale because the bagholders do not need to sell that many coins to satisfy their desire to acquire castles from Estonia.
Therefore I am speculating the next bubble will be in Estonian castles, ruins and manors.
