Ayer

XLMUSD - 1W - Wait for the end of this falling wedge

COINBASE:XLMUSD   XLM/USD
Hi guys,

on the weelky timeframe we can notice Stellar ( XLM ) is in a giant falling wedge pattern. This is usually a pattern leading to an upside move.

We can't ignore the red path as bitcoin and macro are not at their best at the moment. Bitcoin still on the edge of further downside.

However, if things can get better for crypto, we can imagine (and pray) for the green path.
then first target would be the 0,47$ (strong resistance and ichimoku level on the monthly / daily)
then second target is the top of the falling wedge which is also the previous ATH (weekly close) at 0,70$.
This could form a giant cup and handle . If and only if we have a strong break to the upside with a strong candle close :)
if this cup and handle is confirmed the targets will be awesome.

But dont get excited too quickly there are still many targets to achieve first.

If you agree, please feel free to like this idea :)

Bye guys

NFA
Trade active: looking bad, waiting for the weekly close
Comment: forgot to update, broke down the falling wedge
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