This was a post from yesterday, I honestly can't be bothered to re-explain every indicator as I spent 2 hours on it yesterday :(
Baso it's a chance for a big reversal given the , but the factors make it less likely, given , and , Sqzmom and being above the compiled MA.
Thanks for reading guys, if you have any questions specifically feel free to message me <3
I will copy what I posted yesterday when we were testing the 4k support.
"XLM, our well and truly loved project.. could be in some trouble. Let's have a look.
XLM could potentially be going under the 4K support on this move, it isn't the strongest support and this could open up some even better buying opportunities due to the state of bitcoin currently- drawing money away from alts and into itself.
~I usually don't turn to the first, but it is currently a signal, and doesn't have any indication of turning neutral/bullish soon.
~Next on the left is , due to the fluctuations on a day to day basis the is not incredibly low, it means there is still room to be oversold before we "bounce" (I hate that word for some reason).
~I love this indicator, it shows you really when something is going to drive in a direction, or what phase it is generally in. The is suggesting we are in a squeezed downwards phase, however I think this is because of the previous spikes of XLM- comparitively (to the big move in dec/jan) we are actually looking to be squeezed, but in term of this individual move my belief we are more on the extended side and looking to carry on the downtrend. However my conclusion will be a mix of all the indicator and fundamentals.
Market Bottom Indicator
~This indicator takes in a number of factors and likes to decide where the market bottom is, it is not stating this the bottom of this current trend-line and we are sat on the 4K support which means a break could be imminent. I would say this indicator is fairly reliable to a degree, especially when the indicator is triggered on a support line it is just another layer of confirmation of reversal.
~The MA is currently in a strong position well above XLM -0.51% . The gradient change in the MA has been a good indicator, and crossing the MA is a good indicator too, and here the indicator has not changed gradient in it's downtrend.
~We broke into the downside out of a , due to it's long build up this gives us more indicators that the sell off will continue more from where we currently are.
~As always the most important things to look at here are the support and resistances, along with the orange channel lines. We are approaching a weak support, the 4k which can easily be broken allowing some sub 4k xlm -0.51% to be purchased! If we have a severe drop through the support expect a lower low of around the 3.1k region, which was the lowest point in our last price drop of XLM -0.51% after the sharp drop in jan. We are in a downwards channel, and currently are showing indicators not to bounce off the 4k support and carry on movement within side it into what in my opinion is an even better buying zone than I previously stated now we have officially moved out of the .
~If we don't bounce off the 4k support in this downwards trend-line, my recommendation is to pick up some Stellar -4.87% in the 3.1k-3.8k and put it away for a nice amount of time as it will more or less likely provide some long term gains. "
I'm not a financial adviser and nothing I say is a fact, any losses made through these decisions do not hold me accountable and you should never invest more than you're willing to lose.
If you liked this short post, be sure to follow and like. It really helps out :D
I do have an opinion on EOS, but from a TA perspective I haven't looked at it for a very long time. No worries, thank you.