Long

Updated

Stellar - Where Have We Seen This Before?

I'm back after a long week off the charts, I've been focusing on new educational content for my private students and I bought a new car so I've been extremely busy, apologies for being inactive!

Today we have STR/BTC on the 1h chart, a lot of individuals have asked my opinion about this cryptocurrency and I'd like to give you all a brief overview.

As you can see we have just experienced a move from 0.00000400 to 0.00004900 within just 3 days which is around a 1000% increase in price.

This is extremely similar if not, the exact same as my analysis for ripple during April 2017.

Currently, price is trading in between the 0.50 and 0.786 retracement levels, if we see a break of the 0.50 resistance level we will be heading straight for 0.00005000, thus providing an excellent opportunity to buy!

Now taking a look at the 30m chart below, we are holding a great structure whilst respecting the 0.50, 0.618 and 0.786 retracement levels, keep an eye on the trendline for an entry point on the move up.

I wish you all the best in your trading, feel free to connect with me below!

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Well, that happened sooner than expected.

Next target is 4900, see you at the top.

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Here is what I see going on right now, price is respecting the upper trendline, we may see a temporary drop followed by another big move up.

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To all those panic selling this is a heavily manipulated and volatile market, you need to get used to these kinds of drops in price.

Always analyse the chart, you can clearly see we are still making higher highs and higher lows.

Price failed to close below the 0.618 retracement level, I'll be watching this closely over the next 24 hours.

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Price failed to close below the trendline and 0.618 level again, keep watching this price structure closely.

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Just keeping you all updated with what I see happening right now, the price structure below is on the 5m chart.

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We're now approaching breaking point!

Both trendlines are holding well, let's see if we can break to the upside!

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Clean break :)

Expecting the momentum to continue.

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Here is my short term outlook, the trendline is holding extremely well.

I've created a Stellar Telegram group for everyone to share their analysis/opinion and speculate future price movements, you can join here: t.me/StellarLumens

This is not promotional, it's just to benefit all of you interested in Stellar as an investment.

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Pay close attention to this structure.

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Following the altcoin dump during the early hours of this morning, Stellar is recovering and showing great signs of a move up to 4000.

As you can see price failed to close below the 0.618 retracement level which is acting as a pivot support.

We are still constantly making higher highs and higher lows which I have detailed on the chart.

The key levels to focus on are 2900 and 3400, if we see price break through both of these levels we will achieve our short term target of 4000.

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To all those asking for updates, this is what I see happening. Pay close attention to the following Fibonacci levels.

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Two days ago we saw a rejection of the 0.786 retracement level, followed by a move up.

Price is holding the 1500 support very well, keep watching this price structure for future positions.

LewisGlasgow

📈 Master the Art and Science of Trading: sixfigurecapital.com

Also on:

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Disclaimer

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LewisGlasgow

📈 Master the Art and Science of Trading: sixfigurecapital.com

Also on:

Related publications

Ripple - Price Structure

by LewisGlasgow