mion21

XLMBTC descending triangle pattern

BINANCE:XLMBTC   Stellar / Bitcoin
XLM             is currently forming descending triangle pattern. Which will most likely result in big price swing, up or down. It depends on breakout point from the triangle.
You can see the red resistance line and black triangle pattern . If the price will go up and break the red line the next target will be black triangle. If it fails under the bottom black support line, we can expect the price drop as far as the pink line is.
Trade active: XLM fall down from our triangle and found support just below pink support line. In order to make healthy next trade from this setup, we have to wait for retest of the support line. It it breaks, next support is grey dashed trendline.
M.
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