XLM ready for next leg up
Not trading advise, just playing and learning.
Similar to the previous two runs, XLM is forming a triangle that has a resistance level in the previous high ($0.35). The triangle is running out of space, so I will be watching for a powerful candle upwards that should resume another bullish leg towards breaking the previous high ($0.6). If this happens I will buy. It is also possible that XLM goes down first to retest the support level at $0.35-0.36 before returning back up.
This does not mean that XLM will immediately go parabolic towards $0.6, it only means that the bullish trend will resume and we should start seeing higher values, likely higher lows and higher highs in the daily candles.
BTC is having a great influence on XLM, so depending on how I see the market I will decide where to exit, initially my goal will be $0.6.
Good luck!
Similar to the previous two runs, XLM is forming a triangle that has a resistance level in the previous high ($0.35). The triangle is running out of space, so I will be watching for a powerful candle upwards that should resume another bullish leg towards breaking the previous high ($0.6). If this happens I will buy. It is also possible that XLM goes down first to retest the support level at $0.35-0.36 before returning back up.
This does not mean that XLM will immediately go parabolic towards $0.6, it only means that the bullish trend will resume and we should start seeing higher values, likely higher lows and higher highs in the daily candles.
BTC is having a great influence on XLM, so depending on how I see the market I will decide where to exit, initially my goal will be $0.6.
Good luck!
Trade active
The triangle is broken, I would suggest to wait for a MACD crossover buy signal to confirm an uptrend and buy.
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