1. we have Bullish Pennant Pattern formation 2. we are supported by EMA50 (Orange Line) H2 TF 3. we are on top of Daily pivot
Scenarios :
1. bad Breadown this pattern and XLM will back around support 0.15ish
2. good Breakup this pattern and fly to 0.25ish Resistance 1 and retrace
3. very good Breakup this pattern and fly to 0.30ish Resistance 2 and retrace
So now we just have to follow King BTC moves to see where Stellar is leading us. in any of this cases i recommend you to be patient in that kind of area and wait for a Breakdown or Breakup to enter any position.
Happy Tr4Ding !
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Take the time to check my old XLM analyses to understand everything
November 1 :
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May 16
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Demand Zone :
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it looks like a break down but have to wait to finish Daily candle to get a real confirmation. we are still supported by EMA50 on H4 TF.