After this morning pressure from BTC we have retraced to the .786 on the original chart but almost perfectly to the 50% FIB on the larger chart... We should consolidate around here, but if BTC decides to go down the extra leg of its pull back then there will be more pressure from above, if this is the case, I think it should hold its ground fairly well and if you are in a trade like me it maybe worth holding...
Comment:
We are coming down towards the .618 FIB line which will provide support....
Trade active:
XLM made a bounce off the .786 and 50% FIB retrace, which gave us confluence and has helped propel this bounce some what,. It could be enough to help us up a little more to the next resistance level at .56 level, but we will probably come back down to the current level which may will help us over come this wall..