XLM/BTC - Upward Targets (Contingent Upon BTC/USD Breaking Down)
XLM currently nearing the apex of a symmetrical triangle. Symmetrical triangles are typically neutral in terms of possible breakout direction. However, BTC/USD is coincidentally also forming a bearish rising wedge pattern on 4H-1D time-frames. Since XLM and BTC have been demonstrating an almost perfect negative correlation, BTC's bearish rising wedge suggests a possible bullish breakout direction for this XLM symmetrical triangle.
Target 1 Range = .00004850 - .00005320
Target 2 Range = .00005560 - .00005930
**Disclaimer: this is predicated on BTC/USD breaking beneath the current 4H - 1D bearish rising wedge. If BTC does NOT complete this bearish pattern, then this analysis is no longer valid**
Target 1 Range = .00004850 - .00005320
Target 2 Range = .00005560 - .00005930
**Disclaimer: this is predicated on BTC/USD breaking beneath the current 4H - 1D bearish rising wedge. If BTC does NOT complete this bearish pattern, then this analysis is no longer valid**
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