Stellar XLM reached (temp) bottom? Part 2

2019년 2월 17일

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 with very low volatility. Making one wedge after the other.

Now on the left i have drawn the blue channel, which seem the be legit. Since we dropped below it there are 2 options here.

1) We test the support line again as resistance and drop again (red line)
2) We make a good strong move up directly towards the red resistance around 0.087ish.

On the right we can see a triangle, which looks like it wants to break up. If that happens, we need to watch which of these 2 scenario's i just mentioned will play out.



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Previous analysis:

2019년 2월 19일

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