Stellar (XLM), A False Buy Signal?

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Click Chart to Enlarge

Yet Another Market of Repetition

Chart #1

The first chart shows that the last 2 speculative bubbles look very similar on the weekly chart. The last 9 months has been sideways ranging much like the tail-end of the last bubble cycle as well. The Blue Bar on the Weekly chart is a buy signal, but it comes with a caution flag due to the obvious repetition of the past.

Chart #2

Short term invalidation of the pattern will happen if there is a sudden breakout from the range as seen in the second chart. Dip buyers will take a look at movements into the blue rectangle that come with high volume. Strength buyers will be looking a pushes above the 2 horizontal red lines.

Disclosure.┬áThe author does not own any Stellar…yet.

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