XLM fends off the bears in it's a struggle for ascension! Part 2

Hello Traders! Thanks for checking my updated TA of XLM! If you havn't seen it yet, please check out part one of my XLM TA. Just a quick update as I have a very busy day today and hope to be able to dedicate more time to my charting soon!

So, as we can see, XLM managed to encounter a corrective wave at the very time it was forced into the tip of the wedge! This resulted in a temporary break down from trend to a lower support where XLM held with meaningful buy side momentum to keep XLM from reversing. We're now ready to see what kind of buying support XLM will receive to move it back above the ascending trend line and refocus on it's trend of higher price action! This may well be the VERY lowest price for XLM for the duration of the Bull market!

Please DO NOT trade on this TA alone. This is simply a representation of my interpretation of the signals.

As always, I look forward to your constructive critique. Enjoy!

Comment:

I'd like to note I may have called that a little soon having misread the wave count in the 1 minute window in my haste to run out the door. Be advised, it's still very possible we'll trip the H&S neck line and drop from the descending wedge. It's also possible we'll just bounce off the wedge lower trend line and rocket to the upside in a bullish manor. XLM is still fighting for it's continued direction. Watch closely!

Comment:

That's a wrap guys! XLM has officially survived the break down attempt. Lets watch and see the buy response!

Comment:

And then it dumped... wtf