IMPORTANT: I previously posted this TA on the BTC chart by mistake. I'm sorry!
If you don't focus on current price action and watch at 4h chart you'll notice a triangle or a pennant is shaping up. This is good! Even if I can't show you too many indicators at the same time, current price sits on EMA 200 at 4h, watching at stochastic momentum I think it'll bounce from there.
If BTC doesn't dump hard, the chart will form a pattern and then pump, now would be a good moment to enter because you'll have both the possibility to enter for a short term trade (aim the trendiline as resistance) or just to sit on XLM and waid the breaking out of the pattern still in formation.
However I think BTC might go down further so I would enter XLM with only 30% of the money I wanna use. You know... just in case. From there wait to see price action, if I'm wrong on BTC you can enter with the rest.
Good luck!
If you don't focus on current price action and watch at 4h chart you'll notice a triangle or a pennant is shaping up. This is good! Even if I can't show you too many indicators at the same time, current price sits on EMA 200 at 4h, watching at stochastic momentum I think it'll bounce from there.
If BTC doesn't dump hard, the chart will form a pattern and then pump, now would be a good moment to enter because you'll have both the possibility to enter for a short term trade (aim the trendiline as resistance) or just to sit on XLM and waid the breaking out of the pattern still in formation.
However I think BTC might go down further so I would enter XLM with only 30% of the money I wanna use. You know... just in case. From there wait to see price action, if I'm wrong on BTC you can enter with the rest.
Good luck!
Note
XLM price slowly approaching my trendline, most of the indicators points to a possible pump and since XRP is also about to pump I'd say indicators and my gut are right. Just keep in mind BTC is also bullish and if it pumps too much this will affects alts
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.