XEL in the 10-15k channel, and arc idea.
Updated
XEL is young cryptocurrency so it;s hard to predict its behavior couse we don't have long history of the price.
Grean horizontal lines are representing main support (arround 9500) and resistance arround 15k) which is the main price channel for about a month.
Two possible scenerios for the ascending triangle break out:
1. Going straight up to 15k resistance line.
2. Drop arround 9500 satoshi before it goes up to 15k
When the price will broke 15k resistance line we can easly see price above 20k in the end of October to complete the arc.
Other scenario is that the price will stay in 10k-15k channel for October.
Grean horizontal lines are representing main support (arround 9500) and resistance arround 15k) which is the main price channel for about a month.
Two possible scenerios for the ascending triangle break out:
1. Going straight up to 15k resistance line.
2. Drop arround 9500 satoshi before it goes up to 15k
When the price will broke 15k resistance line we can easly see price above 20k in the end of October to complete the arc.
Other scenario is that the price will stay in 10k-15k channel for October.
Trade active
The second scenario is happening.Note
In the second scenario XEL didn't reach 15k as I expected. After hitting 13,5k price fall down to 10k again. He is still above the horizontal green line support -9,5k , so the price is still in main channel. Good apportunity to grab a bag here.
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