Bullish divergence for XLM. Big push in 24-48 hours
Updated
Update on my earlier analysis.
Confirmation of consolidation over prior week with bullish divergence on RSI, supported by lower lows on price.
Next 24 hours will be critical as we need the edges of a support channel that has been established for months. Expect a drawn down on BTC profits and rotation into top 10 crypto assets (first).
Rotation will also move into Defi, but risk-reward there doesn't make much sense with most projects in the space already over valued with 10x pricing over the last few months. Liquid high market caps likely to have the initial sprint (just my POV).
Confirmation of consolidation over prior week with bullish divergence on RSI, supported by lower lows on price.
Next 24 hours will be critical as we need the edges of a support channel that has been established for months. Expect a drawn down on BTC profits and rotation into top 10 crypto assets (first).
Rotation will also move into Defi, but risk-reward there doesn't make much sense with most projects in the space already over valued with 10x pricing over the last few months. Liquid high market caps likely to have the initial sprint (just my POV).
Trade closed: stop reached
Tight stop loss triggered on price break outside of channel.Looks like the big push was a drop across almost all coins.
Caught bounce at $0.4 and monitoring further price action for potential move back into channel.
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