MCFX2
Panjang

XLM Gamble

BITTREX:XLMBTC   Lumen / Bitcoin
XLM             rallied 40% during the conference, and dumped afterwards.
I've been keeping an eye on it since then, and have noticed an interesting pattern.

It could be forming a giant cup and handle with floor of roughly 650 sats             . This is supported by its repeated bearish breakouts of triangles. It is also falling at a decreasing rate, but continues to respect the relatively loose arc i've spotted on it. Please note, a cup and handle is VERY difficult to call before the uptrend part begins, so I'd advise against buying in before it reverses trend, as it could go a lot lower. You can use my Mellow RSI with high settings if you're uncertain, but there are better ways to spot a reversal.

The persistent             resistance at the top is a good indicator of when it is likely to pump, should I be correct. If XLM             dumps particularly hard before a reversal, it could indicate a more channel-like structure.

As always, don't enter trades you're not comfortable with. Uncomfortable trades result in panicked trades, and scared money don't make money.
Having BTC as a constant distraction makes TA hard! I believe XLM is destined for bright future just gotta ride out the recent bull run for BTC. I made and lost lumens on some trades so just holding now and shut off computer for the weekend ;)
Balas
pushnoi PRO rebelbassnz
@rebelbassnz, this sounds like a plan, will join you =)
Balas
Personally feel news: https://medium.com/@SatoshiPay/satoshipay-partners-with-stellar-org-4288ae0baa72

Could cause an increase on Stellar/Lumen today, but im still in many positions losing to the bitcoin bull at the moment so ill let this opportunity slip.

Thanks for the analysis!
Balas
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