XLM on the descending channel

raserrano (63)in #xlm • 6 years ago

The descending channel started back when the price hit the 4033 satoshis level in which I started to watch the price slowly loose its value. There was an attempt to break the pattern when it was above the 2795 satoshis monthly level but soon after loose the momentum and fall back to the 2130 satoshis monthly level. Now it can just think of it to hit the 700 satoshis level which I've previously seen but it will also seems that breaking the resistance and hopefully a new move will be started afterwards and a rebound and recovery will be on sight.

_{Trading view post and the detailed image}

Trading plan

Sell any XLM if you still have some
Wait for the price to get lower hopefully near the 700 satoshis level
Buy #XLM back when the price is at least lower than 1000 satoshis level, you could pretty much duplicate your holdings if price recovers
Get out if price gets lower than 600 satoshis level

New series idea

I will start adding all the funds from this post and analysis charts to the following 2 funds:

A trading fund of 75% of the post rewards which will be invested accordingly to your choice
A reward fund of 25% of the post rewards that will be given to the steemians who suggested the trading option

How can you participate

First suggest which alt-coin to be analyzed
Vote on the chart, survey to select the weekly alt-coin to trade and then

Reward

The reward(25% of post rewards will compose the reward fund + the profit that was obtained from the trading plan ) will be equally split within the steemians that suggested certain alt-coin and was properly traded accordingly to the trading plan.
If the trading plan failed the reward will not be split.

Trading series has just started

Please comment which alt-coins you would like to be analyzed as the first episode of the series. Suggest up to 3 altcoins (due date May the 7th)
When the suggested altcoins list has been build I will create a survey and the only thing you will need to do is to vote the alt-coin you would like to get analyzed. Once 3 waiting days have passed the survey will be close and the charting will start and after that the trading plan and chart will be published.

@raserrano - Developer