Technical analysis: . STELLAR/DOLLAR is in a down trend and Beginning of up trend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 30.
Trading suggestion: Although current trend is downtrend, but we forecast a uptrend wave would begin in Midterm. Price is in the Buy Zone (0.23 to 0.18), we would set orders based on Price Action and expect to reach short-term targets.
. Beginning of entry zone (0.23) . Ending of entry zone (0.18)
Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons: (We have started to prepare these lessons in TradingView. If you want us to continue, give us feedbacks!)
if bitcoin goes down to 6000 wont it drags down all the alts including stellar again?
ForecastCity
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@arvincash88, To answer to this question we should consider different factors, first, they are all cryptocurrencies, so common laws and regulations will affect them all, second, apart from the first factor, every coin has its own characteristics which reveals its value and price, we can find the correlation between every two coins, it will give us an idea how price change in one would suggest change in the other.
tp1 is reached. Should we expect a retracement from here for a continuing up ? currently I have no position now. Which price should i wait to buy back? thank you