XLM/USD Analysis 5-5-2018 — XLM/USD Bollinger Band Squeeze!
Hi all!
Right now we're looking at a period of very low volatility in XLM following a rally that's over doubled its price ($0.20 --> $0.43).
Normally, prolonged periods of low volatility are followed by periods of high volatility. This means we might be due for a breakout.
Notes:
- RSI isn't telling us much, it's sitting smack dab in the middle
- XLM's trend is up.
- LTC and other alts have been stealing the spotlight as of late, but across the board the alt market is hot
- BTC looks poised to push a major psychological resistance at $10k. Historically when BTC does well alts CAN do well
- Crypto market cap is about to break $500B again. Last time this happened we saw exponential growth.
Where does this leave us? In my opinion, neutral. BUT.... this isn't including an awesome clue from the XLM/BTC pair
Check out that Cup and Handle!! With XLM/BTC's currently oversold RSI, this thing is primed to take off!
Conclusion:
If we consider the combination of the Bollinger Band Squeeze in the USD pair and the Cup and Handle formation in the BTC pair, I think XLM is a fantastic coin to buy or hold. If you're not in already, consider buying or adding on a breakout of the Cup & Handle's neckline around .00004750 BTC.
I'm not going to set any stop losses or targets for this trade, but it's upward potential is monstrous if the Cup and Handle formation's full potential materializes (100% profits).
If you appreciate my analysis, tell me what I'm doing well, what coins you want to see, and please toss me a like!
Thanks guys and happy trading!
-Meeseeks
Hi all!
Right now we're looking at a period of very low volatility in XLM following a rally that's over doubled its price ($0.20 --> $0.43).
Normally, prolonged periods of low volatility are followed by periods of high volatility. This means we might be due for a breakout.
Notes:
- RSI isn't telling us much, it's sitting smack dab in the middle
- XLM's trend is up.
- LTC and other alts have been stealing the spotlight as of late, but across the board the alt market is hot
- BTC looks poised to push a major psychological resistance at $10k. Historically when BTC does well alts CAN do well
- Crypto market cap is about to break $500B again. Last time this happened we saw exponential growth.
Where does this leave us? In my opinion, neutral. BUT.... this isn't including an awesome clue from the XLM/BTC pair
Check out that Cup and Handle!! With XLM/BTC's currently oversold RSI, this thing is primed to take off!
Conclusion:
If we consider the combination of the Bollinger Band Squeeze in the USD pair and the Cup and Handle formation in the BTC pair, I think XLM is a fantastic coin to buy or hold. If you're not in already, consider buying or adding on a breakout of the Cup & Handle's neckline around .00004750 BTC.
I'm not going to set any stop losses or targets for this trade, but it's upward potential is monstrous if the Cup and Handle formation's full potential materializes (100% profits).
If you appreciate my analysis, tell me what I'm doing well, what coins you want to see, and please toss me a like!
Thanks guys and happy trading!
-Meeseeks
Comment:
Crypto market pulled back across the board, but I don't think hope is lost.
-Cup and Handle is still perfectly valid in the BTC pair
-In the USD pair, the 4 HR RSI tapped oversold and touched off the bottom band
Mee thinks we still have a chance to moon.