Here is my initial view of this run:
- Wave 3 will hit around 1005 sats
- Wave 4 will retrace to between 920 and 960 sats
- Wave 5 will top out at 1150 sats
- a 45% gain from where we are now.
Stellar's price action has been getting squeezed tighter and tighter in this consolidation triangle started last week. It is now pinballing between the .5 and .382 lines of the triangle's fib retracement. Price has pretty much nowhere else to hide and we should be seeing a breakout within the next 12-18 hours.
While we can't say for sure which direction price will break, the order books shows strong favor for the bulls, with a large amount of organic (not artificial buy walls) bids. This, of course, can change at any point and I rarely depend on depth charts for anything over just a couple hours.
As long as price keeps above the .382 line until the end of the triangle, my bet is that we will see an uptrend soon.