Steller (XLM) is warming up to a very strong bull market
Updated
Hello everyone,
As you can see, i usually don't analyse a short period i prefer to look for the big picture. XLM and many other ALTS have almost the same structure, market cycles mean no bear market nor bull market will last for ever.
i will summarize the important points i relay on:
*Major and minor ABC 12345 waves was formed which means bear market is over based on Elliot Waves Theory
* XLM touched the major historical trend line coinciding with the end of wave 5 then retrace which gives us a great evidence we will start new waves formations to the upside
* XLM is not anymore making Lower lows and Lower Highs
* we have cup and handle on the daily chart (which means XLM is preparing to breakout the bear market channel
* XLM broke out 9,50,100,200 MAs and is trading above all of them and that is very strong sign of a start of bull market
* most indicators are bullish
this is only my opinion and not a trading advice
please don't forget to like and comment to motivate me to continue
thanks!
As you can see, i usually don't analyse a short period i prefer to look for the big picture. XLM and many other ALTS have almost the same structure, market cycles mean no bear market nor bull market will last for ever.
i will summarize the important points i relay on:
*Major and minor ABC 12345 waves was formed which means bear market is over based on Elliot Waves Theory
* XLM touched the major historical trend line coinciding with the end of wave 5 then retrace which gives us a great evidence we will start new waves formations to the upside
* XLM is not anymore making Lower lows and Lower Highs
* we have cup and handle on the daily chart (which means XLM is preparing to breakout the bear market channel
* XLM broke out 9,50,100,200 MAs and is trading above all of them and that is very strong sign of a start of bull market
* most indicators are bullish
this is only my opinion and not a trading advice
please don't forget to like and comment to motivate me to continue
thanks!
Note
XLM broke out the cup and handle neckline
fisrt short term target: 0.087USD
which means XLM will breakout the historical bear market channel
lets watch and i will update later :)
Note
moon is your limit
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