I made this TA based upon a request from one of my followers. Prior to this, I had never invested in XLM, even though I had heard about it often, but I just never bothered to research it properly due to lack of time.
Nevertheless, the TA looks really good, and I have been told their will be news announced for Stellar. So how do I approach this when I know nothing about a coin ?
1) I looked at the chart, and it's an incredibly strong chart. A clear uptrend with huge gains potential based on the Fibonacci targets and the nature of the uptrend. 2) I checked their reddit to learn more about the project, and check tweets with XLM to see if anything interesting is happening soon 3) I checked their roadmap and white paper 4) Very strong partnerships
Everything is looking good and there is clear enthusiasm in their very big community.
From a TA perspective :
- If you look at the indicators that I love, it is oversold on the short term ( so it's a perfect opportunity to buy ) - We are still in an uptrend - At the moment, XLM is facing a very healthy consolidation where whales are accumulating. The more it pumps, the more the accumulation period is longer. It's bouncing back every time it drops, so that's a very strong indicator. - Everything right now depends on bitcoin, XLM can drop a little bit but it doesn't matter since it is a long hold and we are sure this will go up
I would personally invest in this, and it's at a very good buy price range. I will update this chart for buy range and sell strategies.
Kommentar
⋅
Buy range : 0.00003880 - 0.00004571
You can hold, or sell at Fibonacci targets
Kommentar
⋅
Hope you are enjoying this trade. The fibonacci targets are spot on, and if you followed this, you would predict the top and sell at the top.
Kommentar
⋅
Looking like a very good trade. As we can see, XLM is trading on the channel. A buy opportunity is presented if the market is stabilized.
Kommentar
⋅
I would buy soon. It's on the lower channel. Unless bitcoin breaks and we have a bear run again
If btc dumps again, we will see a test of the 3k Satoshi area where xlm dumped last time. I would buy there and then set buy order in 2700-2900 area for Christmas presents!
Zebre_Trader
⋅
@whoisthelorax, That is true too. But I can't predict bitcoin in a chart like this, as bitcoin is an external factor to value. Also this is a long term chart, that means short term fluctuations don't really matter. But yes, if you are a short term trader, I would wait for Bitcoin to move