BTC is still in an uptrend but in a consolidation phase. However, many altcoins appear to be outliers and are significantly weaker when BTC is in a pullback phase. One of them is XLM/USDT, which is trading below the 100 and 200 MA on the daily timeframe.
A close below 0.25267 on the 4-hour timeframe may activate the pattern.
Targets are 0.215 and 0.195.
Invalidation: If it closes above 0.286.
A close below 0.25267 on the 4-hour timeframe may activate the pattern.
Targets are 0.215 and 0.195.
Invalidation: If it closes above 0.286.
Trade active
Pattern activatedNote
Reached the 1.272 fib, you can trim some profit now
Trade closed: target reached
Reached tp 1 and partial profit at tp 2 then closed manually since btc made a break out.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.