If you were going to attempt to enter something, XLM is the only coin in the top 6 on CoinMarketCap that is in a bullish trend against BTC and the market as a whole.
5/20 MA cross occurred and price has continued to bounce off the 5MA as it climes. Price action is now of the poc on the VPVR. Highest volume area coincides with an OB that offered no resistance on the way up.
Best entries in order of size are OB, 5ma, 20ma.
Trade invalid (exit/take profit) if price closes below the 20MA or the 5MA crosses below the 20MA.
I am already in this trade. But people keep buying things that are still in bearish trends, so I wanted to share this as a better option.
Profit targets are easy on this one - previous highs for taking small profits and then anytime it crosses below the 20MA after new ATH.
These are my own trades. Provided for educational purposes only.
5/20 MA cross occurred and price has continued to bounce off the 5MA as it climes. Price action is now of the poc on the VPVR. Highest volume area coincides with an OB that offered no resistance on the way up.
Best entries in order of size are OB, 5ma, 20ma.
Trade invalid (exit/take profit) if price closes below the 20MA or the 5MA crosses below the 20MA.
I am already in this trade. But people keep buying things that are still in bearish trends, so I wanted to share this as a better option.
Profit targets are easy on this one - previous highs for taking small profits and then anytime it crosses below the 20MA after new ATH.
These are my own trades. Provided for educational purposes only.
Comment:
Just a good reminder
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Still have my lower entry orders in the book, but if XLM can break up above 4400 and successfully retest the downtrend resistance on the symmetrical triangle, entries would be moved to the 4000-4400 range.
XLM update
XLM looks stronger than ADA right now. Still more downside for the time being, but I am still looking for entries near the 20MA on the 12 hour and Daily
12hr: