Stellar XLM poised for 300% surge as bullish pattern emerges Bitcoin whales buy 20000 BTC

Analyst and trader Ali Martinez has expressed a bullish outlook on Stellar (XLM), a cryptocurrency project focused on payments and cross-border transactions. Martinez noted that XLM is forming a bullish pattern on the three-day chart, which could potentially trigger a significant price increase. According to Martinez, if Stellar sustains a break above the $0.42 resistance level, it could initiate a bull run to $1.60, representing a 300% price increase from the current level of $0.304.

Martinez's analysis is based on the formation of a bullish flag pattern, which began in November 2024. The 600% rally seen in November created the pattern’s flagpole, and the subsequent consolidation phase has been forming the pattern’s flag. This pattern suggests that a sustained break above the resistance level could lead to a substantial price surge.

In addition to his bullish stance on Stellar, Martinez also provided insights into Bitcoin (BTC). He noted that Bitcoin has historically rebounded when the trader loss margin reaches -12%. Currently, the loss margin is at -15.4%, indicating a potential reversal. Martinez further highlighted that over the past two weeks, more than 25,000 Bitcoin, worth approximately $2.29 billion, have been withdrawn from crypto exchanges. This significant withdrawal suggests strong buy-side interest and bullish sentiment among whales, who have bought over 20,000 Bitcoin since it dipped below $88,000 on February 24th.

Bitcoin is currently trading at $91,737, reflecting the market's anticipation of a potential reversal. Martinez's analysis underscores the importance of monitoring key technical indicators and market sentiment to gauge the future direction of cryptocurrency prices. His insights provide valuable perspectives for traders and investors looking to capitalize on potential price movements in the crypto market.