Stellar XLM BTC New Improved Setup Forming for 50% Gains Long
Stellar Lumen XLM BTC completed the target price of 4700 Satoshis on my previous chart of a potential Head and shoulders/rounded bottom breakout.
XLMBTC has morphed into an even larger chart with higher upside and lower risk if you place your stop losses nice and tight like your game needs to be.
Key Indicators:
1. Fantastic support at 4350 Satoshis. Use your head and take advantage of this support and allow it to dictate your stop loss (just below) for higher risk traders. Also use this as an indicator as a great pull back price for entry.
2. Moving average 12/26 going parabolic shortly. Zoom out and look at a larger moving average time frames. Remember MA's lag, so you have to be early to the party. For lower risk traders look to the breakout point above 4745 Sats (Blue Astrisk) WITH volume or a test of the support of 4745 after breakout. You'll sacrifice some profits, but you'll also lower your risk.
3. Note the RSI is extremely "overbought". When a crypto asset gets on fire it's almost always overbought. Wait for a pull back if you want a lower risk trade. Higher risk traders.....get in there on the breakout after viewing TA on BTC. A "death cross" has also taken place earlier in the month, but other crypto's like BTC and ETH have taught us that this isn't as important as initially purported to be.
4. Volume: Volume has increased dramaticlly over the last 4 days. Look for great volume coupled with a break through support, but be ready to move quickly AKA have your order set for breakout price (lower risk) or pull back price (higher risk) depending on your tolerance.
5. 4506 .5 Fib: This may turn into support and is being tested as I write this. It's already been pierced 2 straight days. This will become support prior to breakout. Another good entry point if you have a higher risk tolerance.
Target Price: 6200 Satoshis based on the height of the bottom to the breakout point. Understand this will take some time to complete and won't be a 2 day process.
Breakout Entry Point: Be patient. This is the smartest entry point IMHO. It could take some time for XLM to breakout to this price of 4750 to 4900 Satoshis.
Stellar XLM has been severely undervalued compared to XRP for some time, but the inner AND outer crypto community took notice late last year, so it's only a matter of time. They're forming strong partnerships, are more decentralized than XRP and Jed is the real brains behind both projects. XLM is a solid long term bet, if you have the time to buy and hodl. However, it very well could turn out to be a fantastic short term gain as well. Just trade safe and look for that breakout point or KNOW that you can hold for new ATH.
Set your stop loss/limit...limit your risk, play the chart as it morphs and changes. Post to the comments with any questions and I'll respond. Please throw me a follow and a like if you appreciate me as much as I appreciate you.
Much Love CryptoCrew,
AJ
XLMBTC has morphed into an even larger chart with higher upside and lower risk if you place your stop losses nice and tight like your game needs to be.
Key Indicators:
1. Fantastic support at 4350 Satoshis. Use your head and take advantage of this support and allow it to dictate your stop loss (just below) for higher risk traders. Also use this as an indicator as a great pull back price for entry.
2. Moving average 12/26 going parabolic shortly. Zoom out and look at a larger moving average time frames. Remember MA's lag, so you have to be early to the party. For lower risk traders look to the breakout point above 4745 Sats (Blue Astrisk) WITH volume or a test of the support of 4745 after breakout. You'll sacrifice some profits, but you'll also lower your risk.
3. Note the RSI is extremely "overbought". When a crypto asset gets on fire it's almost always overbought. Wait for a pull back if you want a lower risk trade. Higher risk traders.....get in there on the breakout after viewing TA on BTC. A "death cross" has also taken place earlier in the month, but other crypto's like BTC and ETH have taught us that this isn't as important as initially purported to be.
4. Volume: Volume has increased dramaticlly over the last 4 days. Look for great volume coupled with a break through support, but be ready to move quickly AKA have your order set for breakout price (lower risk) or pull back price (higher risk) depending on your tolerance.
5. 4506 .5 Fib: This may turn into support and is being tested as I write this. It's already been pierced 2 straight days. This will become support prior to breakout. Another good entry point if you have a higher risk tolerance.
Target Price: 6200 Satoshis based on the height of the bottom to the breakout point. Understand this will take some time to complete and won't be a 2 day process.
Breakout Entry Point: Be patient. This is the smartest entry point IMHO. It could take some time for XLM to breakout to this price of 4750 to 4900 Satoshis.
Stellar XLM has been severely undervalued compared to XRP for some time, but the inner AND outer crypto community took notice late last year, so it's only a matter of time. They're forming strong partnerships, are more decentralized than XRP and Jed is the real brains behind both projects. XLM is a solid long term bet, if you have the time to buy and hodl. However, it very well could turn out to be a fantastic short term gain as well. Just trade safe and look for that breakout point or KNOW that you can hold for new ATH.
Set your stop loss/limit...limit your risk, play the chart as it morphs and changes. Post to the comments with any questions and I'll respond. Please throw me a follow and a like if you appreciate me as much as I appreciate you.
Much Love CryptoCrew,
AJ
