Update breakout XLM (Stellar Lumens) BTC 4h chart
My first idea posted on January, 1 was about the possibility of an upwards move of XLM versus BTC.
As you can see, that upwards move has materialized, after a tiny final wave down towards the same support has occurred.
We subsequently broke out of the wedge like pattern and accelerated towards the first resistance zone. Where we are now, you see on the chart multiple indications of possible resistance.
I would personally let winning positions run, (unless the setup of your trade of course was that one of a short term trade, with the target reached). Adding new positions at this spot, that's another story. I expect things to work out bullish, with more upwards action to come (after some consolidation, retrace?), but I should need to see more reference points before acting upon that. Feel free to ask info or just interact in the comment section.
As you can see, that upwards move has materialized, after a tiny final wave down towards the same support has occurred.
We subsequently broke out of the wedge like pattern and accelerated towards the first resistance zone. Where we are now, you see on the chart multiple indications of possible resistance.
I would personally let winning positions run, (unless the setup of your trade of course was that one of a short term trade, with the target reached). Adding new positions at this spot, that's another story. I expect things to work out bullish, with more upwards action to come (after some consolidation, retrace?), but I should need to see more reference points before acting upon that. Feel free to ask info or just interact in the comment section.
Comment:
All systems are GO (Thunderbirds)