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Stellar (XLM) – September 6 for BINANCE:XLMUSD by readCrypto

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( XLMUSD 1W Chart)

If the price holds above the 0.16420803-0.23438790 range, it is expected that the uptrend will continue.

(1D chart)

A move above the 0.44798284 point is expected to accelerate the uptrend.

However, the 0.40293161-0.44798284 section is a resistance section, so it is necessary to check whether it breaks upwards.

If it falls from the 0.23438790 point, you need Stop Loss to preserve your profit.

Don’t try too hard to know ‘how far will it rise…’

The most important thing is at which point and in which section the average unit price is formed.

Buying when it’s rising is just as risky.

Therefore, if it is confirmed that it is receiving support by falling, and it rises in this support area , you should proceed with a full-fledged purchase.

Therefore, in this chart, a full-fledged buying should have been made in the range 0.29261600-0.32832969.

It can be said that buying at the current point of reaching the resistance range of 0.40293161-0.44798284 is high risk.

If it fails to break above the resistance zone , it is possible to touch the 0.29261600-0.32832969 zone again.

Therefore, it is recommended to proceed with buying when the resistance zone is broken upwards and support is confirmed.

Therefore, it is recommended to proceed with buying in the 0.44798284-0.51004646 section.

However, if you look at the overall price position, you need to adjust the investment because it is located in the high point.

Buying in the highs is more risky.

In addition, since there is a high possibility of large fluctuations in the high-end section, it is because trading is carried out in a psychologically unstable state.

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(XLMBTC 1W chart)

You should watch for any movement that deviates from the 428 Satoshi-1288 Satoshi section, which is the bottom box section.

(1D chart)

It remains to be seen if the 731 Satoshi-817 Satoshi section can support and rise.

If it falls from the 731 Satoshi point, there is a possibility of entering the mid- to long-term investment area, so careful trading is required.

If the price is maintained above the 817 Satoshi point, it is expected to turn into an uptrend and rise.

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We recommend that you trade with your average unit price.

This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden.

The center of all trading starts with the average unit price at which you start trading.

If you ignore this, you may be trading in the wrong direction.

Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves.

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** All indicators are lagging indicators.

Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume .

However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.

** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.

Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line)

** The OBV indicator was re-created by applying the formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)

** See support, resistance, and abbreviation points.

** Support or resistance is based on the closing price of the 1D chart.

** All descriptions are for reference only and do not guarantee a profit or loss in investment.

Explanation of abbreviations displayed in the chart

R: A point or section of resistance that requires a response to preserve profits.

S-L: Stop Loss point or section

S: A point or section where you can buy to make a profit as a support point or section.

(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)

GAP refers to the difference in prices that occurred when the stock market, CME , and BAKKT exchanges were closed because they are not traded 24 hours a day.

G1 : Closing price when closed

G2: Opening price

(Example) Gap (G1-G2)

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