XLM/BTC - Primed for breakout after 2yr consolidation

1 ก.ย. 2021

In my humble opinion, XLM/BTC has broken out of a descending wedge. This is a bullish formation and is seemingly confirmed - could this be an early sign of an impending impulse wave to the upside? Regardless, decent long opportunities for the short/mid-term assuming we see continuation. XLM has a strong correlation with XRP, which has been showing signs of a bullish breakout as of late. We will ultimately have to see what big bro BTC does, but if the stars align, here is what I'm proposing for a short/mid-term long:

Entry @: ~725
TP 1: 760 (4.79%)
TP 2: 799 (10.17%)
TP 3: 826 (14%)
STOP @: 710 (-2%)

Not financial advice.

Just my 0.00000002 sats.

Please like if you agree, and let me know if/why you don't.