Let’s take a look at the Stellar Lumens (XLMBTC) chart long-term, on the weekly time frame…
Let’s start with the chart pattern, we can see the classic bullishfalling wedge .
XLMBTC is breaking pass the “major trendline” in red. Moving above this level would put XLMBTC above resistance and a new trend can start to take form.
So the market moves in cycles… First, we have a downtrend, the uptrend comes next… How long will it last?
The RSI printed the same bullish pattern and hit its lowest point ever, oversold… After a strong bounce, it is showing plenty of room left available for growth (green arrow).
The MACD also reached its lowest point ever and is now displaying a bullish cross… Plenty of room available for growth (green arrow).
This is the long-term chart for Stellar Lumens (XLMBTC).
You can see the indicators oversold and sending out strong reversal signals… There are over 800% profits potential to XLM ATH on Binance… Surely, this pair will generate so much more gains/growth in the weeks, months and years to come.
What’s your take?
Share your thoughts in the comments section below.
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.