formation that is currently close to completion.
It has been steady forming higher lows and higher highs even despite Bitcoin's swift rise, which is a sign of stability and strength.
Pending orders should be placed at a break of the 535 level.
There will be resistance at the 56x levels, but if that can break then we are going to 592 (which is my first target).
We are above the 100 day moving average and ichi.
Beware... stellar has been known to have some very quick movement in both directions, so take profit when you can.
But it can be argued that its price has been suppressed for far too long compared to other alts during this great institutional money bull market.
Be aware, even if the cup and handle formation doesn't break out, we are still very much in a huge bullish pennant that has massive upside potential if/when it does break out.
Let's hope stellar can raise up to where it should be!
Guys. We are moving FAST. Have clearly broken the 56x triple top resistance and are in the midst of pushing through 59x on xlm (str price lags behind, as usual). I have a feeling we are going much, much higher this time.
You may sit and take the profits now or hold for the long haul, but I truly believe we are going to re-challenge the 7xx/9xx previous swing highs that were made when the IBM news was first announced. May take a few days or weeks, but I believe we will get there.
Here is what we're currently looking at.
Mind you, it is overbought in shorter time frames, but 1d rsi provides ample room for upward growth and the bulls currently have market control with volume. So there will most likely be some pullback as she forms bull flags and pennants on the move up.
A break of 596 resistance and we are going to 643.
You could probably do a whole lot worse with a long-term hold coin...and I'm still predicting a revisit of that 843 swing high after the initial partnership news.
Again, if you're a bit squeamish, I would not fault you if you took the profits now and ran. Hope it was at least a good overnight scalp for ya.
As I previously stated, we are currently in the midst of a series of several bull pennants as the market consolidates at different levels from profit takers.
Barring a breakdown of this pennant, we will most likely be pushing up to test the 690 level. We shall see.
Patience, my friends. Approximately t minus 3 hours from now.
Break of the pennant downwards will retest 56x support. But I think we're going back up as the market consolidates.
Will retest previous 643 top. Past that and it's 691.
Yet ANOTHER cup and handle formation out of the break of the bull flat outlined above (turned out to be a flag, not a pennant).
Here we go again. Break of the 630 neckline and we're going to test 690. A big pullback in BTC after 10k might just be what the doctor ordered.
The bulls got this baby by the horns as she busted right through and up towards 843 resistance.
There is some CRAZY volume going on right now.
I have to admit, I'm taking profit at 800 here, as I expect some kind of pullback as we are overbought on almost all shorter time frames. But who knows how much higher they'll take it.
Will create another idea for what may be the next step, as I'm anticipating another bullflag/pennant appearing as usual.
Congrats if you stayed patient as I advised multiple times!