*Short* Stellar Lumens / XLM Bearish Descending Wedge Breakdown
If you've followed my ideas long enough, you'll know that I absolutely love scalping/swing trading this coin. For the most part, the medium and large moves have been quite predictable.
I'm making another short-term forecast.
It's currently been bouncing in a rather tight range within a bearish descending pennant/wedge.
The 1hr chart is quite telling. If the current pattern continues, I'm predicting it will continue to push the RSI levels upwards up above the 70 range as soon as the wedge formation is
completed.
As we've seen in the past, this has coincided with a drop-off in prices as the market capitulates.
Pay attention to this formation, but I'm guessing the drop should come by sometime tomorrow (sunday) or early Monday, if not sooner.
Primary target is 0.00000457, which is a strong support level.
I'm making another short-term forecast.
It's currently been bouncing in a rather tight range within a bearish descending pennant/wedge.
The 1hr chart is quite telling. If the current pattern continues, I'm predicting it will continue to push the RSI levels upwards up above the 70 range as soon as the wedge formation is
completed.
As we've seen in the past, this has coincided with a drop-off in prices as the market capitulates.
Pay attention to this formation, but I'm guessing the drop should come by sometime tomorrow (sunday) or early Monday, if not sooner.
Primary target is 0.00000457, which is a strong support level.
Order cancelled:
Mission abort. As soon as I published, the market decided to break out of the wedge to the upside! Still, pay attention to the 1hr rsi for a nice shorting opportunity.