Critical break out point. Higher extension more likely.

22 ส.ค. 2018

The 1D Channel Down on XLMUSD broke sideways (STOCH - 50.493, CCI = -28.8679, Highs/Lows = 0.0000) as the 0.1938 support held twice. As long as the Higher Low supporting line holds (illustrated on red dots), then Stellar Lumens should seek a Lower High on the dictating 1W bearish pattern. Based on the previous Lower High (0.3533 on July 25th) that was on the 0.618 Fibonacci retracement point, we expect a value of 0.2833. If then supporting line breaks however, expect a test of the 0.1802 and 0.1713 marks (June 29, 2018 low), where we have to wait for further confirmation.