Ive told some people about my wish to post some of my recommended coins, named 'Serie A coins'.
I iniate this serie of post with Stellar Lumens, also know as XLM.
First i will talk about TA projection and second, why XLM qualify as a Serie A coin
On this chart we see a classic 1-5 wave with a retracement, on shorter time frame we see number of indicator showing a consolidation. This projected consolidation could lead XLM to re-test the top. If this attemp is failed then a double top is a strong indicator of a bigger retracement.
Double top projection (bearish) :
The bullish alternative count if top resistance is broken :
Criteria that make XLM a Serie A coin :
Multi usage cryptocurrency : Remittance-Micropayments-Mobile money (source : stellar.org/)
@simonmercier Thanks for analysis, I hope it will start going up this week. But I think with this bearish BTC... I don't know...
XLM need some good news to pull a triger
whoisthelorax
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MaCD on daily TF already crossed bearish. I'm leaning towards a weak bull move once btc settles, then slow downtrend until New cycle
UnknownUnicorn1540828
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@whoisthelorax, to confirm a bearish trend i always wait a double top on MACD 1D. Saw too many bearish trap forming a LS before making the real gains at H.
pforestbird
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@simonmercier, I also believe in a good sign when the MACD is going to cross the signal line from below, indicating a trend change. But what do you mean by a double top in MACD ? Can you make an example?
XLM need some good news to pull a triger