Momentum could be building up again to another strong push to test highs in the next few weeks. Bullish. RSI Looking great.
View the chart. First Target would be the neck line, next a move up to the measured height of the head. RSI trending up.
Moreso neutral than long, but this could be indicating a reversal.
Not making trades before confirmation.
Correction may be over as the volume has picked up significantly
Broken through a very long descending trend line, plenty of room for growth if we see continued upside momentum after this backtest.
Bias is bullish due to the big impulsive move that lead us here. Break out should be soon.
Thinking in probabilities involves realizing the likelihood of this move to continue to the upside upon breakout of the current formation is greater than the likelihood of it breaking down. Why? We had a quick 'correction' that stopped out some longs, formed a pennant on the 4hr, during which most of tradingview ppl decided it was a great time to short, which it...
Symmetrical triangle in a bullish trend. No emotions, no bs. Likelihood of breaking to the upside is greater than a break down considering the overall bullish market sentiment, trend, and recent volume. Remembering to think in probabilities is key!
XLM forming a descending broadening wedge while BTC shows all the doomers its classic party trick the dump and pump. Looking pretty decent for at least a few percent gains. As we see with XRP right now, alt coins have been given the chance to thrive still.
Trendline on the 4hr RSI seems to be showing the current trend's move. Extended above the trendline, corrected, now touching the trend line and pulling up again. Overall, weekly volume and the giant move up is still a huge sign of strength. Even after BTC's fast correction, XLM is continuing to show strength.
XLM has shown a lot of strength recently; however the previous 4H candle close is showing a stack of 10 bearish divergences, which is quite a lot! Be weary of this and take profits as you see fit. If this is a top for the current time being, we may start to form some form of a formation in the likes of a broadening wedge that could be a good setup for bullish...
Dotted and dashed lines show to be the less likely to occur basing off of previous data. The longer ascending trend line must hold. In the short term, a decline is expected.
fractal like pattern becoming realized while RSI continues to make higher lows.