RodrigoGarreton
Long

STELLAR LUMENS (XLM) ACUMULATION

BITTREX:XLMBTC   Lumen / Bitcoin
Today, we find Stellar Lumens ( XLM ) in an excellent range of accumulation, days ago I am perceiving a sharp drop because the cryptomarket is going to bitcoin (I calculate that to do the recapitulation already). On the other hand, I have also received hundreds of millionaire withdrawals from Lumens from the exchanges to cold wallets (so yes, they are accumulating). After seeing all this, I intend to review the graph.

At first glance in the daily chart , we find the break of a large support (as happened with bitcoin ) and is in an old support zone which started two explorations, then I can say that the third is soon, The idea is to buy in this area thinking in the long term, yes, the offer has arrived.

We can notice several issues that indicate the next movement

1-) a kind of pennant has been formed.
2-) There is a strong divergence in the rsi .
3-) there are strong divergences in the Macd .
3a) in the histogram.
3b) in the mobile means of the same.
4-) Soon I will cap the Adx .

Comments

If you want to be a master on trading, You must review over thousands charts! And, sleepless nights!


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So is this almost like wedge in a descending channel or could it be a wedge in a bull flag?
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RodrigoGarreton Teklologist
@Teklologist, maybe...
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RodrigoGarreton Teklologist
@Teklologist, sorry, here
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Teklologist RodrigoGarreton
@RodrigoGarreton, yes. An interesting pattern, which I seemingly bought into too early at ~1900. Holding out for now hoping for this to play out. Saw some calling for further drop to ~750, but I find that unlikely.
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RodrigoGarreton Teklologist
@Teklologist, Well, do not forget that this is crypto, anything could happen, and you're right now -700 is unlikely, but maybe I could go up and find new low
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