#XLM/USDT - Long HODL - Potential 52.03%
DIRECTION: LONG
MARKET: SPOT/FUTURES
RISK: 0.25% - 1%
#USDT_XLM
EXCHANGE: BINANCE
TIMEFRAME: Daily
BUYS: 11806 / 10915 / 10279
TARGETS
1 : 13366
2. 13874
3. 15219
4. 16272
5. 17944
STOP: 09369
XLM is showing multiple technically bullish indicators following a new interest in Crypto due to the BTC spot ETF’s.
As a major project with real world CBDC applications Stellar is likely to be a still ‘live’ project by the time the bull run finds the ALTs and is therefore probably worth adding to a crypto portfolio.
While the wider crypto sentiment is bullish there is a clear chance for BTC to correct which would be damaging to all ALT’s including XLM so if you are looking at positions I’d suggest a staggered entry (mine are illustrated on the chart).
I’d be confident going into this on the knowledge that a BTC short term correction is likely to be followed by more upside with key events in the near future including the halving and the the ETF approvals.
In terms of technicals we have a trendline break on both the price chart and on the RSI which indicated the start of a bullish move.
The immediate resistance I had worried about from the converging 20, 50 and 200 moving averages broke over the weekend and is now providing support for price. The 50 remains above the 200 and the 20 is about to cross above confirming an uptrend.
Throwing a fib onto the last movement cycle shows that our targets match up with the 382, 5, 618 and 786 levels which match with the sell zones we are seeing on the order books. Targets have been placed below these order blocks and I’ll take incremental profits at these levels pulling the SL up as each target is hit. As much as I’d love to hold this through the whole of the bullrun ultimately I’d be happy to just exit with some profit.
Let me know what you think or if you have any similar ideas!
MARKET: SPOT/FUTURES
RISK: 0.25% - 1%
#USDT_XLM
EXCHANGE: BINANCE
TIMEFRAME: Daily
BUYS: 11806 / 10915 / 10279
TARGETS
1 : 13366
2. 13874
3. 15219
4. 16272
5. 17944
STOP: 09369
XLM is showing multiple technically bullish indicators following a new interest in Crypto due to the BTC spot ETF’s.
As a major project with real world CBDC applications Stellar is likely to be a still ‘live’ project by the time the bull run finds the ALTs and is therefore probably worth adding to a crypto portfolio.
While the wider crypto sentiment is bullish there is a clear chance for BTC to correct which would be damaging to all ALT’s including XLM so if you are looking at positions I’d suggest a staggered entry (mine are illustrated on the chart).
I’d be confident going into this on the knowledge that a BTC short term correction is likely to be followed by more upside with key events in the near future including the halving and the the ETF approvals.
In terms of technicals we have a trendline break on both the price chart and on the RSI which indicated the start of a bullish move.
The immediate resistance I had worried about from the converging 20, 50 and 200 moving averages broke over the weekend and is now providing support for price. The 50 remains above the 200 and the 20 is about to cross above confirming an uptrend.
Throwing a fib onto the last movement cycle shows that our targets match up with the 382, 5, 618 and 786 levels which match with the sell zones we are seeing on the order books. Targets have been placed below these order blocks and I’ll take incremental profits at these levels pulling the SL up as each target is hit. As much as I’d love to hold this through the whole of the bullrun ultimately I’d be happy to just exit with some profit.
Let me know what you think or if you have any similar ideas!
Nota
TP1 hit for 12% profit. I'm just going to let this one ride, no adjustments.
Aviso legal
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.