When BTC breaks out, we see some alts rally later on. Here is a favorite of mine that I am keeping an eye on -- XLM!
We see that the RSI has crossed the 50 center line which is a bullish indicator. The MACD is kissing and about to cross. We are also trading above the daily pivot (pink dot), daily BC (blue dot), and daily TC (blue dot). These are all good signs.
The current candle is playing against my first upper purple line as resistance. Closing above here would be bullish, and I don't see it unreasonable to test the next purple lines as the next areas of resistance. For a quick trade, I might grab some XLM here, place a stop at today's daily pivot (0.134), and target around $0.153024 for a 9.73% profit.
There will be a 60 minutes dedicated to Bitcoin "and other cryptocurrencies" on Sunday. I can see some new people entering the market via Coinbase and trying to buy some of these "other cryptocurrencies..."
This is my own personal strategy. Good luck with your trades.
We see that the RSI has crossed the 50 center line which is a bullish indicator. The MACD is kissing and about to cross. We are also trading above the daily pivot (pink dot), daily BC (blue dot), and daily TC (blue dot). These are all good signs.
The current candle is playing against my first upper purple line as resistance. Closing above here would be bullish, and I don't see it unreasonable to test the next purple lines as the next areas of resistance. For a quick trade, I might grab some XLM here, place a stop at today's daily pivot (0.134), and target around $0.153024 for a 9.73% profit.
There will be a 60 minutes dedicated to Bitcoin "and other cryptocurrencies" on Sunday. I can see some new people entering the market via Coinbase and trying to buy some of these "other cryptocurrencies..."
This is my own personal strategy. Good luck with your trades.
Trade closed: stop reached:
Closed, stop reached.
Looks like I jumped the gun a little bit here. The MACD crossed back to the downside and the RSI is heading down toward the 50 center line. My stop was triggered and I am now out of this trade.
I think I am going to take a more neutral position on XLM and see if I can buy some around the 50MA (green line), or get lucky and buy it below the 50MA at support levels. I think anything less than 12 cents for XLM is a great buy for a longer term play, where I will wait for a breakout to make back what I lost on this trade (+ extra profit).
As always, best of luck with your trades!
Looks like I jumped the gun a little bit here. The MACD crossed back to the downside and the RSI is heading down toward the 50 center line. My stop was triggered and I am now out of this trade.
I think I am going to take a more neutral position on XLM and see if I can buy some around the 50MA (green line), or get lucky and buy it below the 50MA at support levels. I think anything less than 12 cents for XLM is a great buy for a longer term play, where I will wait for a breakout to make back what I lost on this trade (+ extra profit).
As always, best of luck with your trades!