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.
Handel aktiv
⋅
Break Out. Next candle should confirm. Perfect time to enter if you haven't yet. ;)
Handel aktiv
⋅
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.
Handel aktiv
⋅
Major resistance incoming @578. The purple line for the Chuashov fork breakout. We should see massive movement then.
Handel aktiv
⋅
Well, when BTC movement starts fucking with your trades.
How do you think the bitcoin elevation affects XLM
karansingh7473
⋅
@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. :)