On the daily chart we can see an ascending channel, in the channel we can see two patterns of a descending wedge.
The last descending wedge pattern gave us a bullish reaction in the channel.
Will the second descending wedge also bring out reaction of the buyers and bounce of the support line?
What do you think?
In my previous analysis i showed a bullish wedge, which was playing out almost perfectly in the blue circle, but in the end it dropped below the support line and made a small crash even. Now usually when a bullish wedge fails, we see a big fast dump happen. But instead we saw if move sideways and even a small countermove up. The past week, XLM' seems to be dead...
Double click the price column to see the chart. My trade set-up $XLM Stellar Lumens. Im in for the mid to long haul with swing trading along the way to build my account. Not financial advice.
Cypher completed, I made some loss, let's try to gain it back.
Idea is to enter on pullback and aim for 0.382 and 0.618 Fib levels from C to D. Stop loss for now bellow X.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Stellar Lumen was one of the coins which profited from a strong december. It was a time to hold alts. Now, it will drop hard. If you are holding now, then sell. Because the correction isn't over yet. It is still at a really high position and will drop hard.
Looking at the indicators, bad days may come for holders. It did not really escape top resistance line of...
