Hot pick: Stellar/Bitcoin Update

Hot pick: Stellar/Bitcoin Update

XLM/BTC broke above one year long accumulation zone, therefore I’m leaning bullish. As long as we stay above 900 satoshis on a daily closing basis, the price remains bullish and dips are for buying. Targets are 1270sat, 1530sat and 2100sat. 

However, if the daily candle closes back inside the range, this recent pump was just another deviation and the price will probably revisit the mid-range at 725sat. There is a lot of confluence in that zone since it is also the area of the untested daily bullish block, the 100 and the 200 daily moving averages, and the POC line.

Bullish requirements:

  • The price has to stay above the range high

Bearish requirements:

  • The price has to close below the range high.

The nearest resistance levels are marked with light red areas.

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