XMR/USD possible cup and handle formation before new high

As XMR/USD has seen significant resistance at it's old high of $155, I see a possible cup and handle formation on XMR/USD if it breaks out of the ascending wedge. However we could also have the typical ascending wedge breakout scenario, and possibly revisit the $95-85 area. I won't hold my breath though, and will be looking to buy at $108.25-$98 (fibonacci retracement level 0.5 / 0.382).