On this coin, in a secondary trend that has formed an upward channel with an impressive step of more than 100%, a symmetrical triangle is formed near its base of the trendline. The price is clamped. Let me remind you that the "radiant cryptocurrency" made exactly + 600% from the breakout of the resistance level of 0.08572 to 0.59. These are not random numbers. The support level that is currently held is the 0.4 zone. There will be a denouement in the near future.
Think about what action is causing the formation of such a pattern on the chart. This will give you an understanding of the ongoing processes of "interaction" and possibly with the correct application and profit.
For more clarity of two of the processes taking place in the market now, see my old training / work ideas attached below this idea, which by the way I did on the example of the same XLM coin:
1) "Big secret" 2) XLM / USD Secondary Trend
Financial markets are a psychological game of manipulating people's behavior with the help of the weak link of the bulk of people, that is, money (a resource for the embodiment of material desires), the final result is to achieve the required goal through the embodiment / non-embodiment of the desires of controlled people.
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is a breakdown of the triangle resistance. From the level of 0.37318 + 11% #
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after the breakout of the downtrend (triangle resistance), an accumulation channel was formed with a step of 25%, which can act as the second phase of the formation in cases of a breakthrough of its resistance level of 0, 44 and the development of 3 phases ... Cup 72.74%.
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+ 52% at the moment. The trend is developing. In advance, 6 days before the reversal of this trend, the lowest future price reversal point was shown.
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+ 98% price near the resistance zone of the cup in a local uptrend.
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the resistance of 0.609 was not overcome. A rollback under the local correction of the market. There is a breakdown of the local downside. Fixing the price above the resistance of the 0.6 cup will result in working out its targets.
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+ 26% with a breakdown of the local downward trend. The price approached an important resistance zone.
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+ 55% the price is currently in the resistance zone of the previous highs. If fixed, pumping continues to the designated area. If not, then a rollback to the local uptrend. Zone 0.50-0.55. Then you need to look whether the trend will be kept or not.
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A falling wedge has formed. The price of his resistance.
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After the breakdown of the wedge resistance, the price began to level out in the sideways. Notice how the feet were squeezed out to the line of the large cup formation. A potential double bottom is formed locally in case of holding this support level zone.