XLM lets goo - 19/02

Updated

this is my basic analysis! just support/resist and basic chart patterns
I've put 2 target profits; the flag's height and the pole's height - from its breakout region

please do feel free to comment with your insight!

Trade active

according to the bollinger's band of the 1 day chart, the breakout could still be longer... im still hodling

Note

I've given a false alarm, it was an ascending wedge (usually breaks out downwards in a bearish pattern), but then it broke up to the top and consolidated into a descending wedge (potentially bearish), it broke downwards countering my previous analysis.

Currently, we can see a confirmed double bottom therefore we can target the old consolidation line to save losses from the previous trade. We can also see in the 1h chart that it is flowing along a channel.

But we can see, in the weekly chart that it could dip slightly further before it tries for the ATH. This could be a good re-entry zone. Either HODL or sell and re-buy

parajelly

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