XLM/BTC: Do or Die area here
I am liking XLM for a long here because it has reached the bottom of the support range in the blue box. I highlighted two orange circles because it looks like XLM potentially may dip down and wick some levels outside of this box.
This is the 3D chart, so some of those wicks could last a day, maybe longer, just keeping that in mind for the trade. The purple line is my "crystal ball" prediction, potentially dipping a little lower, and then eventually bouncing from the support zone we are currently in.
I started to slowly add to my position under 0.0000294 on spot, not overly aggressive buying due to the fact that Bitcoin is showing weakness which could negatively impact the alt coin market if Bitcoin continues to drop.
Captioned this "doe or die area" here because if it does drop out of this range with confidence, I will be quick to cut the loss, due to the fact that the next support zone that I like in the blue box below is over an -80% cut, and there is no need to hold through those kinds of dips. Cautiously long here, but if things with Bitcoin take another substantial downturn it is not likely that alts will preform well (in my opinion).
No longer posting links in trading view descriptions, but you can find my twitter in my trading view profile bio. I have a discord group which can be found on my twitter.
Disclaimer: I am not a financial advisor, and this should not be considered in any way finance advice. Never invest more than you can afford to lose. I am just a Dragon.
This is the 3D chart, so some of those wicks could last a day, maybe longer, just keeping that in mind for the trade. The purple line is my "crystal ball" prediction, potentially dipping a little lower, and then eventually bouncing from the support zone we are currently in.
I started to slowly add to my position under 0.0000294 on spot, not overly aggressive buying due to the fact that Bitcoin is showing weakness which could negatively impact the alt coin market if Bitcoin continues to drop.
Captioned this "doe or die area" here because if it does drop out of this range with confidence, I will be quick to cut the loss, due to the fact that the next support zone that I like in the blue box below is over an -80% cut, and there is no need to hold through those kinds of dips. Cautiously long here, but if things with Bitcoin take another substantial downturn it is not likely that alts will preform well (in my opinion).
No longer posting links in trading view descriptions, but you can find my twitter in my trading view profile bio. I have a discord group which can be found on my twitter.
Disclaimer: I am not a financial advisor, and this should not be considered in any way finance advice. Never invest more than you can afford to lose. I am just a Dragon.
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