XLMBTC has experienced extreme growth in the last 45 days, and I want to express my excitement and concern.
For the last week or so, my wife and I have been enjoying the second season of Planet Earth on Netflix. It ishilariously depressing to watch those 30 black rooster-looking birds jump up and down for hours just to get that one chicks attention. It's probably exactly what I looked like to my wife before we were married. Humans and animals alike are desperately continuing the past-time of fighting for food, mates, and power.
I mean, that's literally why we sit here for hours staring at multi-colored charts based on the prices of a technology that is relatively underutilized in the modern world. For the lambos.
Positives
XLM has experienced a similar growth-spurt as ETH did in Summer of 2017 and LTC in late 2017-early 2018. On December 29, XLMBTC opened at 1412 and on January 3, closed at 5860 with a high of 6190.
The MAs were severely lagging, so like an animal in hardship, XLM has formed a channel. A triangle as formed with heavy resistance at the top and strong support at the bottom.
The blue-dashed line that divides our main channel was created back in October of 2017 and has served a major role through this coins explosive growth.
Negatives
Volume has decreased significantly, and the 200D MA is far away, though rising.
A demoralizing rejection off the top of the triangle could force a close below Channel B, or break through the triangle and return to the Original Up Trend.
Conclusion
For the next few days, buy below Channel B and sell in Channel A. Stop loss below the bottom of the triangle if you're scared.
Let's wait for the MA to quicken it's ascent and revisit.
Disclaimer: That artic wolf that got absolutely burnt by a 1-day old caribou is still probably better at this than I am.
For the last week or so, my wife and I have been enjoying the second season of Planet Earth on Netflix. It ishilariously depressing to watch those 30 black rooster-looking birds jump up and down for hours just to get that one chicks attention. It's probably exactly what I looked like to my wife before we were married. Humans and animals alike are desperately continuing the past-time of fighting for food, mates, and power.
I mean, that's literally why we sit here for hours staring at multi-colored charts based on the prices of a technology that is relatively underutilized in the modern world. For the lambos.
Positives
XLM has experienced a similar growth-spurt as ETH did in Summer of 2017 and LTC in late 2017-early 2018. On December 29, XLMBTC opened at 1412 and on January 3, closed at 5860 with a high of 6190.
The MAs were severely lagging, so like an animal in hardship, XLM has formed a channel. A triangle as formed with heavy resistance at the top and strong support at the bottom.
The blue-dashed line that divides our main channel was created back in October of 2017 and has served a major role through this coins explosive growth.
Negatives
Volume has decreased significantly, and the 200D MA is far away, though rising.
A demoralizing rejection off the top of the triangle could force a close below Channel B, or break through the triangle and return to the Original Up Trend.
Conclusion
For the next few days, buy below Channel B and sell in Channel A. Stop loss below the bottom of the triangle if you're scared.
Let's wait for the MA to quicken it's ascent and revisit.
Disclaimer: That artic wolf that got absolutely burnt by a 1-day old caribou is still probably better at this than I am.