XLM / BTC - XLM getting up over some M-Resistance?
Day candle break of trend. Need some confirmation of upside movement.. Patiently waiting
Kommentar:
Day Chart
So 2/13 we get our break of the trendline and resistance at 4605 satoshi and a confirmation candle of upside but the candle is indecision. We needed our slow MA to cross to the upside which hasn't happened. We are forming a bearish candle on today's candle. Will need to wait and see how it plays out. Below is the 4hr to provide some thoughts on what could /might happen.
Price action is returning to the 200 MA for a retest. Will need to wait and see how the next 1 or 2 candles on the four play out to see how the day will end. Right now we have more selling pressure at the 4575ish area just below our 4600 resistance line. Buying power does kick in until around 4400 which is right at support and 200MA. I"m guessing we are retesting and moving back up later today sometime.
Day Chart
So 2/13 we get our break of the trendline and resistance at 4605 satoshi and a confirmation candle of upside but the candle is indecision. We needed our slow MA to cross to the upside which hasn't happened. We are forming a bearish candle on today's candle. Will need to wait and see how it plays out. Below is the 4hr to provide some thoughts on what could /might happen.
Price action is returning to the 200 MA for a retest. Will need to wait and see how the next 1 or 2 candles on the four play out to see how the day will end. Right now we have more selling pressure at the 4575ish area just below our 4600 resistance line. Buying power does kick in until around 4400 which is right at support and 200MA. I"m guessing we are retesting and moving back up later today sometime.
XLM is looking ok. We got our day candle to close above trendline & resistance at 4600. Current day is forming to the upside and will look for closing confirmation above 4605.
4hr chart is providing some confirmation of upside movement. We have multiple break/close/confirmation above 4605. This should continue but day closing will confirm.