AmazinRaisin

Reversal imminent

Long
BINANCE:XLMBTC   Stellar / Bitcoin
Stellar has been dropping in bitcoin value for some time now. However, there are some clues that a reversal should be incoming. Today's daily candle has formed a hammer. The candle hasn't closed yet, but I think with a few hours left on the candle it should remain a hammer. Furthermore, A bullish divergence has formed on the daily RSI indicating a trend change is probable. If you like knife catching this could be a good risk to jump in.


On the USD pair breakout looks probable as well. Price has been holding above the 55 daily moving average and ichimoku cloud. If it breaks out of the triangle target should be about 20 cents.

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