XLMBTC | 4 Hour | Updated

BITTREX:XLMBTC   Lumen / Bitcoin
Revised Chart. Volume curve in yellow corresponding to the Cup is a perfect textbook example of how it should be in a Cup and Handle (Reference- Bulkowski Pattern)
Also, double bottom forming in the handle. KABOOM! Target remains the same.
交易开始: Break Out. Next candle should confirm. Perfect time to enter if you haven't yet. ;)
交易开始: Congratulations whoever is invested. But guess what, we have just broken out from the cup and handle completion. TAARGET IS STILL THE BOX. The real time charts can show you the immense spike in volume.
交易开始: Major resistance incoming @578. The purple line for the Chuashov fork breakout. We should see massive movement then.
交易开始: Well, when BTC movement starts fucking with your trades.
How do you think the bitcoin elevation affects XLM
karansingh7473 orlandojack63
@orlandojack63, Not just XLM, but all the alts. And if you run a search about this, you would find a lot of unproven hypothesis. But still, following is my opinion.

Unless a particular alt coin market is strong enough, this happens due to one or the other of the following reasons:
1. To balance out the value in Dollars. Basically, to prevent Arbitrage. (Please google for detailed explanation)
2. Demand and supply. People trade bitcoins
for altcoins and vice versa.

Also, this has been a repetivtive pattern for all the past events when BTC has climbed up rapidly. So, as a practice now, traders tend to move out of trades to prevent losses, in turn preventing themselves from making any profits. A vicious circle.

But, If you would observe closely, all the markets were quite stable during this last/ current elevation. I don't know for sure, but maybe the incoming volume forecast because of the CME futures, movement of BTC will not have much effect on that of the alts. Infact, itishould should keep the price free from sudden fluctuations.

That's totally my opinion though after spending a while in this space. Let me know yours. :)
English (UK)
English (IN)
Bahasa Indonesia
Bahasa Melayu
Tiếng Việt
首页 股票筛选器 外汇信号搜索器 加密货币信号搜索器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
个人资料 个人资料设置 账号和账单 我的支持标签 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出