Stellar is a platform originally forked from Ripple consensus protocol that allows you to send instant fiat transactions worlwide thanks to a decentralized network of servers and trusted anchors that honor the fiat balances.
You can read the basics of Stellar in their site, here.
Here there is a closer look of the same chart in daily
Reasons to support a long in strbtc pair:
- Long old crossed up (needs weekly close above 205 to confirm)
- Weekly and monthly crossed
- MA cross on daily (21, 44)
- EMA cross on weekly (5, 8)
- Strong correlation with Ripple ( xrpbtc )
Here you have a chart showing the strong correlation between Ripple ( xrpbtc ) and Stellar ( strbtc )
Check related ideas for @Intuit analysis of strbtc
I have already bought 228 and 222, and I have orders all the way down to 200.
Main and first target, ~365 . Second and ultimate target, ~520.
Stop loss would be a weekly close again under the .
Still the bullish cross has happened there too.
It certainly seems to be heading to next resistance, but i'm always cautious with this "bubbles" and i'm making nice profits with this approach.
As we reached that oversold zone, and printed a nice bull hidden div, just went we tested that trendline, i do expect a strong bounce.
To reduce risks and lock in profits, i will set a sell order for half of the remaining position, that is to say, 25% of original position at 330.
The remaining 25% i will try to look for the second resistance, around 520.
Got stopped at ~255 for the remaining 50% of position (the first 50% was closed at 367 target), meaning a 37.6% net profit against btc.
50% closed at 367
50% closed at 255
Total net profit 31.2+6.4=37.6%
Btw for example MAID and FCT has huge bull patterns so I think alts not dead yet...;)
Check this chart of 12 alts against usd. Most seem to have peaked and aren't going to make new highs in a long time.
But i guess you can get my point.