BITTREX:XLMBTC   Lumen / Bitcoin
XLM             did a big jump on the 2017/05/07 and then it started doing a U shape movement until the 2018/01/03 where it peaked again, after that peak it retraced making this a Cup and Handle .

On the other hand, near the handle its forming a Descending Triangle:
snapshot
Which means (most likely in percentage) that the price will be going down.. BUT theres always the chance that it breaks the "downtrend line" and the price goes up, thus making the Cup and Handle valid!

In my opinion the Cup and Handle is most likely to happen, but don't take what I say for granted, I'm new on this market!


Let's see what happens!

Trade safe!
Comment:
snapshot


12H TF price dropped to the bottom of the cloud but closed inside, later it broke out of the cloud and bounced on its outside line

snapshot


On 8H we see Tenkan heading to cross (upwards) the Kijun line, good sign!

snapshot


On 4H we see the price closing above the cloud and Tenkan > Kijun
Comment:
snapshot


Double bottom on that "support" that we can see on the Handle on the 1D chart
Comment: Ichimoku on 1D shows nothing... Tendon is parallel to Kijun, price SHOULD NOT close bellow of the Kijun that would mean a drop. The fact that the Tenkan and the Kijun are parallel could be because theres a resistance there that doesn't allow the price range to move that much.
Comment:
snapshot


Sorry my bad, I should've pointed out this first, we can see a Desending triangle forming, Most likely to go down again and make a triple bottom, lets see if it holds on there or we see a big drop.
Comment: Sorry to inform but this Idea will be closed so I can turn my attention to BTCUSD.

Trade safe!
Trade closed manually: Sorry to inform but this Idea will be closed so I can turn my attention to BTCUSD.

Trade safe!
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