While I do enjoy talking about the fundamentals of different blockchain technologies, they are in no way my specialty.
What I am decent at is trend analysis. And I think I've found a goldie here (early on too).
With BITFINEX:BTCUSD screaming high above $8k, we've seen most alt coins lag quite a bit. Most performances have been pretty bismal, but I think things may be about to turn around if we can see Bitcoin cool off here.
One coin that grabbed my eye was BITFINEX:XLMUSD . I did some chart analysis and it seems to have reversed trend giving us a great set up with good potential upside of around $0.30 for my near term target.
I entered a trade at $0.11
Case for the Bulls:
Case for the Bears:
Overall, as long as we hold the supporting trendline , we have an uptrend. All we must do is buy the higher lows and protect our capital in the event of a reversal.
Nothing fancy here, just good ole trend trading.
Referrals are an appreciated way to support my efforts.
