BitcoinGuru

XLMUSD Long-term Update

KRAKEN:XLMUSD   XLM / USD
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XLM is within a narrow orange falling wedge since May 2018. As we are reaching slowly its end, I see a higher probability for a double bottom at 0.0750-0.0677 where I recommend buying while keeping tight stoploss and waiting for the second rally to the top range at 0.136-0.165 by July/August 2019. Around that time the entire Crypto Market should have confirmed the trend change to bull. XLM would follow the green path gradually through 2020.

The worst possible scenario should Bitcoin drop back to $3,620-3,400 support would be the path I represented in red through an IH&S with a final bottom near the 0.0405-0.0358 support.

Note: I recommend buying XLM for the long-term near the designated low support levels. Best is to keep that stash untouched in a hardware wallet for the 2020-2022 Megabull

Buy/Support:

0.0280-0.0120 - Previous bottom in 2018 / unlikely to be reached unless Bitcoin revisits $3,620-3,400 support
0.0405-0.0358 - Optimal buy area for capitulation within falling wedge/ also head of the red IH&S bull reversal
0.0750-0.0677 - Buy area for green scenario / double bottom - keep tight stoploss as directed

Sell/Resistances:
0.109-0.119
0.133-0.140 - Top resistance of the red IH&S
0.160-0.164
0.196-0.210 - 61.8% previous Fib turned into resistance
0.240-0.260 - Potential final top / good take profit area

Dynamic Stoploss: 0.0635, exit on a bounce as we may see XLM sell down lower within the orange falling wedge towards 0.0405-0.0358 or even lower depending on Bitcoin and Ethereum
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My vision of the situation on this coin. the coin is very promising! Only I have trade for bitcoin
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What if your left shoulder on your chart is head IH&S?
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