XLM / USD --- Consolidation Pattern (Decending Wedge & Cup)

Long

Stellar Lumens (BITTREX:XLMUSD)

Updated

BITTREX:XLMUSD Stellar Lumens

Looks like we are coming to the end of a descending wedge that may see XLM/USD break up or break down between now and 1/12.... Could a cup be forming for the next leg up?

Comment:

Initially looked like this was breaking down, but today it seemed to break above the resistance point. The bottom *may* be in. I expect the curve line drawn to be more elongated, meaning it will take longer for it to peak and hit next level than depicted.

Related Ideas

about XLMUSD 1

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.