$XML #STELLARLUMEN - ready for a short bounce

Hello Lads and Ladies,

XLMBTC is a very interesting scenario. I called it a few weeks ago already that if it does not mange to bounce off the 61.8% fibs, it is more or less rest and heading towards the 78.6% line, which has been a major support in the past!

ANYHOW, on its way down we cannot exclude some corrections upwards, maybe even exactly to that 61.8% fibs. So, how do I get to that 61.8% line and why might it happen even within the next next few days?
Taking a look at the daily chart, it is VERY bullish at this moment. We are far away from the middle of the Bollinger Bands, RSI is at 29 points, very near to its lowest of 26 Points AND we are today on the 9th candle of the TD sequential, what mostly means a nice turn over, as we also have seen at XLMBTCs past.
Nevertheless, I strongly doubt that this would be the trend reversal already and we would after that continue heading down towards the 78.6% fibs, from where on we SHOULD see a trend reversal.


Taking a view at the ugly hourly chart, we can see a wedge forming and right now still sitting above the middle of the Bollinger Bands, from where we might see a bounce up.
Anyhow, the hourly has a rather high RSI, so if we see a bounce sound, it will be very soon and easily overbought and then head south again, which would correlate with that what we see on the daily chart.
Moreover, for me the daily chart and its formations are more relevant in this case.

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Cheers, Tomas