XLM Triangle Formation on Daily

3 Mar 2021

Looks like a Triangle has formed on the daily chart. I would like to say I’m bullish, but there is a lot of bearish sentiment out there right now. Lots of talks of bull traps and fear and greed index warnings. On the flip side there have been higher lows and with the release of Horizon 2.0 XLM may have the strength to push to .64 or even .69. This candle will mean a lot as it appears the MACD is flattening. A good day could give a bullish cross. If this candle closes bearish there is potential for a 25-30% ride to the downside. Play this one carefully.

3 Mar 2021

Not

I realized that the chart image didn't show the potential gains and losses. Posting a zoomed out view below. Notice the dotted green trend line coming off of the previous highs lands right around .69