Hi friends, hope you are well and welcome to the new update on XLM.
Broadening wedge:
On a 4-hr time frame,XLM has reached the resistance of broadening wedge:
Falling wedge and bullish divergence:
On a daily time frame, Stellar has bounced from the support of a falling wedge. There is also bullish divergence flashed, as the priceline is forming lower low and RSI is setting higher low.
Double bottom formation:
The priceline is also forming a double bottom at $0.18 support.
Conclusion:
If the priceline of XLM breaks out broadening wedge, on a 4-hr time frame, then there will be a high probability for the breakout from the bigger falling wedge pattern.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Broadening wedge:
On a 4-hr time frame,XLM has reached the resistance of broadening wedge:
Falling wedge and bullish divergence:
On a daily time frame, Stellar has bounced from the support of a falling wedge. There is also bullish divergence flashed, as the priceline is forming lower low and RSI is setting higher low.
Double bottom formation:
The priceline is also forming a double bottom at $0.18 support.
Conclusion:
If the priceline of XLM breaks out broadening wedge, on a 4-hr time frame, then there will be a high probability for the breakout from the bigger falling wedge pattern.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade