One coin that grabbed my eye was BITFINEX:XLMUSD . I did some chart analysis and it seems to have reversed trend giving us a great set up with good potential upside of around $0.30 for my near term target.
I entered a trade at $0.11
Case for the Bulls:
- Strong bounce off of supporting
- Clean break out from suppressing
- First sign from Lazy Bear Indicator
- Bitcoin showing upside
Case for the Bears:
General Altcoin market conditions may not yet be ready
Case for this to be a bull trap
Overall, as long as we hold the supporting , we have an uptrend. All we must do is buy the higher lows and protect our capital in the event of a reversal.
Nothing fancy here, just good ole trend trading.