XLM - Stellar Lumens Mega Cup and Handle
I see a cup and handle that's currently in the works for XLM. Why? Observe the mega run up, followed by a huge retracement on low selling volume. The cup is still forming, but I think the pattern is substantiated by the volume observed at the trough of the cup. Volume has meaningfully picked up. If this pattern persists, the implied upside is almost 4x in the mid term.
Đóng lệnh: đạt mục tiêu:
Congratulations to those who had the patience to stick with this trade. You were rewarded handsomely. Now, though Stellar is an excellent project, it's time to start wrapping up this trade for the time being.
I'd like to take some time to evaluate my analysis:
- In hindsight, the first lip of the cup in this chart should have been drawn higher, near the long wick at about 44k satoshis. The price rebounded commensurately. Again, I would highly recommend that you start taking profits at these levels.
- The velocity of upward squeezes happens very gradually, then quickly. I expected the trade to play out slower than it actually did.
- We may see a squeeze several points higher to 45-47k satoshis, but I highly doubt it to be sustainable, and we are likely to see a period of consolidation in this coin.
Be wise, people, it is time to take some money off the table in this trade. The upside is limited and the charts show an overextension of buying into this coin. All this adds up to reducing both the odds and the magnitude of upside.
I'd like to take some time to evaluate my analysis:
- In hindsight, the first lip of the cup in this chart should have been drawn higher, near the long wick at about 44k satoshis. The price rebounded commensurately. Again, I would highly recommend that you start taking profits at these levels.
- The velocity of upward squeezes happens very gradually, then quickly. I expected the trade to play out slower than it actually did.
- We may see a squeeze several points higher to 45-47k satoshis, but I highly doubt it to be sustainable, and we are likely to see a period of consolidation in this coin.
Be wise, people, it is time to take some money off the table in this trade. The upside is limited and the charts show an overextension of buying into this coin. All this adds up to reducing both the odds and the magnitude of upside.
