People have been burned bu the bull case for XLM and also people ahev made a ton of loot off XLM!
What has changed?
For me the trend reversed with the bottom a few weeks ago AND as you can see from the support line from lower left side to just above the fib break we are at the LONG TERM TRENDLINE.
THE 4 hour candle closed ABOVE resistance and I circled the last time that happened.
Also we have a bollinger pinch situation ( I put yellow lines along the Bollinger pinch)after a bounce off trend and fibonacci level. RSI is good but volume has not confirmed as it is very early. THIS NEEDS VOLUME TO BREAK OUT MEANINGFULLY.
The horizontal yellow line is a MA level on the daily the has proved resistance. If we close on 4hr or daily chart ABOVE 2891 there then get out your moonboots and tell your landlord you are moving out of the basement into the penthouse suite baby!
If we fall and break the fib level and long term support and close on 4hr or daily then run for your life. So put a stop there for safety if you trade.
None if this is trade advice, just patterns I find interesting. We are in this together so take it easy on each other and even take is easy on the big forecasters bc TA is an art and not a science, No one can tell the future we can only prepare for the 3 scenarios. Higher, lower, or sideways!
What has changed?
For me the trend reversed with the bottom a few weeks ago AND as you can see from the support line from lower left side to just above the fib break we are at the LONG TERM TRENDLINE.
THE 4 hour candle closed ABOVE resistance and I circled the last time that happened.
Also we have a bollinger pinch situation ( I put yellow lines along the Bollinger pinch)after a bounce off trend and fibonacci level. RSI is good but volume has not confirmed as it is very early. THIS NEEDS VOLUME TO BREAK OUT MEANINGFULLY.
The horizontal yellow line is a MA level on the daily the has proved resistance. If we close on 4hr or daily chart ABOVE 2891 there then get out your moonboots and tell your landlord you are moving out of the basement into the penthouse suite baby!
If we fall and break the fib level and long term support and close on 4hr or daily then run for your life. So put a stop there for safety if you trade.
None if this is trade advice, just patterns I find interesting. We are in this together so take it easy on each other and even take is easy on the big forecasters bc TA is an art and not a science, No one can tell the future we can only prepare for the 3 scenarios. Higher, lower, or sideways!
Comment:
Bitcoin crashing but this staying strong. Rally intact in my eyes.
Trade closed manually:
might rally but trend broken.