XLM/BTC : NOTABLE PATTERNS
Updated
WELCOME BACK TRADERS, HOPE YOU'RE ALL ON A PATH TO MAKING MONEY. RE-COOPERATING RECENT LOSSES/ LICKING WOUNDS.
I RECENTLY BOUGHT BACK INTO LUMENS AND DECIDED TO DO A LITTLE TA. HERE ARE SOME THOUGHTS I'D LIKE TO SHARE WITH YOU ALL...
CHART IS ON THE DAILY TIME FRAME.
FROM VERY LATE DECEMBER TO THE 3RD OF JANUARY WE SAW A RALLY UPWARD TO 0.00006193
ON THE 4TH OF JANUARY A BEARISH CANDLE FORMED. IT OPENED AT THE CLOSE OF THE PREVIOUS CANDLE AND GOT ABOUT 50% PENETRATION. CONFIRMING THE DARK-CLOUD COVER PATTERN. A BEARISH SIGNAL.
THE BULLS CONTINUED TO FIGHT BACK BUT HAVE LOST CONTROL TO THE BEARS FOR THE LAST 2 WEEKS.
I SUSPECT A HAMMER MAY BE IN THE PROCESS OF FORMING. A BULLISH SIGNAL. WE WOULD SEE A RALLY UPWARD WHERE WE MAY CONFIRM THE RESIST LINE AT 0.00006480 OR BREAK IT FOR ATH.
RSI CHART SHOWS LUMENS IS CURRENTLY MASSIVELY OVERBOUGHT. BUT THIS IS A VERY STRONG COIN, WITH A CONCRETE TEAM/ COMMUNITY BEHIND IT. I'M BULLISH ON XLM BUT DYOR!
HAPPY HUNTING MY FRIENDS.
PM ME ANY REQUESTS YOU MAY HAVE. BE SURE TO FOLLOW ME ON TWITTER AS WELL.
UNTIL NEXT TIME!
I RECENTLY BOUGHT BACK INTO LUMENS AND DECIDED TO DO A LITTLE TA. HERE ARE SOME THOUGHTS I'D LIKE TO SHARE WITH YOU ALL...
CHART IS ON THE DAILY TIME FRAME.
FROM VERY LATE DECEMBER TO THE 3RD OF JANUARY WE SAW A RALLY UPWARD TO 0.00006193
ON THE 4TH OF JANUARY A BEARISH CANDLE FORMED. IT OPENED AT THE CLOSE OF THE PREVIOUS CANDLE AND GOT ABOUT 50% PENETRATION. CONFIRMING THE DARK-CLOUD COVER PATTERN. A BEARISH SIGNAL.
THE BULLS CONTINUED TO FIGHT BACK BUT HAVE LOST CONTROL TO THE BEARS FOR THE LAST 2 WEEKS.
I SUSPECT A HAMMER MAY BE IN THE PROCESS OF FORMING. A BULLISH SIGNAL. WE WOULD SEE A RALLY UPWARD WHERE WE MAY CONFIRM THE RESIST LINE AT 0.00006480 OR BREAK IT FOR ATH.
RSI CHART SHOWS LUMENS IS CURRENTLY MASSIVELY OVERBOUGHT. BUT THIS IS A VERY STRONG COIN, WITH A CONCRETE TEAM/ COMMUNITY BEHIND IT. I'M BULLISH ON XLM BUT DYOR!
HAPPY HUNTING MY FRIENDS.
PM ME ANY REQUESTS YOU MAY HAVE. BE SURE TO FOLLOW ME ON TWITTER AS WELL.
UNTIL NEXT TIME!
Note
A HAMMER FORMATION DIDN'T OCCUR AS I HAD GUESSED. WE DID SEE A BULLISH PIERCING PATTERN ON JANUARY 17TH, BUT THE BULLS HAVE BEEN LOSING STEAM SINCE THEN. HOPEFULLY THEY CAN GAIN CONTROL AND BREAK WHITE RESISTANCE.Note
THIS SIDEWAYS THING IS NOT AMUSING...LUMENS ALWAYS DOES THIS TO ME AFTER I STAKE MORE
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