XLMBTC Range Median| Structural Resistance| S/R Flip

7 jun 2020Evening Traders,

Today’s Analysis – XLMBTC – must hold range median upon a retest to test structural resistance (range high)

Points to consider,
- Range median (local support)
- S/R flip retest must hold
- Structural resistance (Immediate target)
- Volume below average

XLMBTC’s range median is in confluence with local support, a trade location where an S/R flip must hold for a bullish continuation.

The structural resistance is a technical target as it is the range high of this consolidation area.

Volume is clearly declining and remaining below average, this is usually an indication of an influx being imminent.

Overall, in my opinion, XLMBTX needs to develop more to confirm its S/R flip. Establishing a new level as support will allow for a defined risk long trade into structural resistance (range high).

What are your thoughts?

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And remember,

“Remember our definition of a winning attitude: a positive expectation of your efforts with an acceptance that whatever results you get are a perfect reflection of your level of development and what you need to learn to do better.” ― Mark Douglas