XLM/USD Daily M pattern
XLM/USD COINBASE:XLMUSD
Fundamental: The COT data for Bitcoin is net long, and the largest amount shorts were closed since beginning of January. Banks are taking profit on their short positions from the bear run. XLM correlates with Bitcoin .
Technical: There is a daily M pattern that has formed depicted in white ( bullish ). This pattern completes at the neckline depicted by green. The weekly chart has printed a inverted head and shoulder depicted by blue ( bullish ). Lower timeframes will be analyzed to determine entry point.
