Stellar Has To Be The Boring Market Project After The Market Analysis

We got multiple touches on the top of this wedge right multiple touches and multiple rejections each time we got heinous rejections down lower and then we got multiple touches on the bottom as well we had upward sloping support line that ended up breaking through and now we're going further to the downside we are coming back this could just be kind of a fake out wick on the daily chart

Image Source
This is on the four hour run on the daily chart this could just be kind of a kind of a fake out wick and we could just end up bouncing around but we also could just end up top it out at the top at the bottom of this support line before moving up down to the furthest the downside this is pretty bearish to me on that we did break this supply line here or demand line

I'm sorry i'm pretty bearish for the short term i am a little bit more bearish on stellar whether it be to the upside or to the downside we're going to see a pretty big move either way you see we have this resistance line we've only had two touches it's still very important because this is our local top and then our other our second little local top in this last consolidation and on the bottom we're getting just literally support on it each time all throughout this consolidation period

We're almost making this upwards sloping demand line and these things two things are going to converge in each other we're going to get a heinous move whether it's at the upside or the downside target if we do break this to the downside will be at about the 6 cent level i don't see it going much lower than that because we should have pretty good support if i bring out my line tool here we should have pretty good support

Posted Using LeoFinance ^Beta