XLM Showing strong cup and handle signals
Updated
Stellar Lumens was listed on binance today. Cryptos usually tank when that happens, and XLM was no exception, which presents a solid buying opportunity. Furthermore XLM is a solid platform that has great growth potential long-term.
As you can see from the chart, XLM is showing signs of a cup-and-handle formation, along with increasing volume as we enter the rising portion of the cup. These are all very bullish signs. If you're an aggressive trader you can enter a long position now and plan on an exit anywhere between February-June.
A more conservative trader may wait for a confirming candle tomorrow / sunday. Also keeping in mind Futures opening on Sunday at 5, basically any trade in the crypto world should be considered extremely risky right now, so trade with caution. My position in all crypto until after futures is very small.
Either way, consider this a medium to long-term play, depending on the success of XLM. Don't enter this with intention of leaving it before Feb / March, unless we just get lucky. As always, trade responsibly.
As you can see from the chart, XLM is showing signs of a cup-and-handle formation, along with increasing volume as we enter the rising portion of the cup. These are all very bullish signs. If you're an aggressive trader you can enter a long position now and plan on an exit anywhere between February-June.
A more conservative trader may wait for a confirming candle tomorrow / sunday. Also keeping in mind Futures opening on Sunday at 5, basically any trade in the crypto world should be considered extremely risky right now, so trade with caution. My position in all crypto until after futures is very small.
Either way, consider this a medium to long-term play, depending on the success of XLM. Don't enter this with intention of leaving it before Feb / March, unless we just get lucky. As always, trade responsibly.
Trade active
Active in this trade, opened a position earlier this morning. I don't try to time the 10-15 minute chart in cryptos.Note
We haaaaaaaave liftoff!Trade closed: target reached
Well this was fun. Don't buy hype. Now's a good time to sell. Wait for its inevitable fall to support.
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