STELLAR: This seems to be a TA "Handbook" breakage

in stellar •  8 months ago  (edited)

8 days ago I wrote a post called "STELLAR: Let's focus on other promising altcoins" on which I was alerting about what I thought was a perfect Setting-up for an ALTCOIN reversal, in this case STELLAR.
In particular I drafted the following sketch:

The scenario on the daily chart was indicating both, a breakage of the triangular Pattern through the top Resistance trendline together with a breakage of the price line by the 200dMA line (dark blue)

Also, the previous high (d) was broken...

What we have as a result just 8 days after is this:

STELLAR has corrected as predicted on (ii), crossing a little the "upper Resistance Line" which is now a support.

At the 4h-chart the rise is more than evident and, as a possible path it could follow the one I propose below:

(iii) green wave in construction right now which its division in 5 sub-waves (blue) may tell us that the 1st sub-wave is almost completed.

All in all a fully confirmation of Reversal Trend for STELLAR...

At least we have some nice indications of market recovery!!!



*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently.
Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

Published on
by toofasteddie

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!