Why XLM STILL BULLISH!
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In my previous post, I shared that a bullish cup and handle were forming but this was rejected because XLM follows BTC’s movement for a couple of days.
Here is why I am still bullish with XLM.
Based on the chart, XLM has broken the trendline.
In the short term, it is a bad sign because we will have more downside.
However, if we fall at a $0.047-0.051 price range, a formation of a double bottom reversal pattern is possible.
In addition, we will see in the RSI that XLM will enter in the OVERSOLD territory.
Now, if a double bottom will be formed and XLM perfectly holds the support, there is a probability that XLM will have a bounce up to the resistance at $0.082-0.09.
It is a possible 70-80% gain if you buy XLM in the support/buy zone.
Don’t forget to set always your stop loss.
Happy Trading!
Please do your own charting and research.
HIT LIKE AND FOLLOW ME FOR MORE CHARTING AND UPDATES!
In my previous post, I shared that a bullish cup and handle were forming but this was rejected because XLM follows BTC’s movement for a couple of days.
Here is why I am still bullish with XLM.
Based on the chart, XLM has broken the trendline.
In the short term, it is a bad sign because we will have more downside.
However, if we fall at a $0.047-0.051 price range, a formation of a double bottom reversal pattern is possible.
In addition, we will see in the RSI that XLM will enter in the OVERSOLD territory.
Now, if a double bottom will be formed and XLM perfectly holds the support, there is a probability that XLM will have a bounce up to the resistance at $0.082-0.09.
It is a possible 70-80% gain if you buy XLM in the support/buy zone.
Don’t forget to set always your stop loss.
Happy Trading!
Please do your own charting and research.