At lest on the short term, XLM is still very bullish. Drawing a diagonal line of best fit connecting the lows (S1-S4) as price completed its retrace to S4 gave 4 points of contact/data points for diagonal support. From R1-R3 chart showed bullish rising wedge pattern testing similar resistance levels each run and setting higher lows each time, signaling that on...
This is about as classic a textbook head and shoulders setup as we could ever ask for. A breakdown of support in the 13,700 range could lead to a drop to 12,000 - 11,500, or even lower. Guessing we'll see another panicked selloff if this support breaks, as people start to realize that yes, BTC can drop. This might shake a lot of the 'non-trader' participants out...
