Mar 26, 2019 --- Altcoins
Daily Chart
Stellar v’s Bitcoin chart has turned lower over the past few days before getting a chance to retest the 0.0000xx area as expected, although the selloff that we were eventually expecting appears to be underway which should give us an opportunity to get active on the long side in the not too distant future. Notice that SCMR has shifted to red today, the current candle formation is quite bearish, short-term market structure is heavy, the momentum oscillators need more recharging, the volume indications are bleeding, and the Ichimoku Cloud remains firmly bearish, so we think more downside below 0.0000xx is likely in the near future. That said, support is fairly strong between 0.0000xx - 0.0000xx, as well as in the 0.0000xx - 0.0000xx area, so we would be buyers of moves down into either one of these regions if given the chance moving forward.
Short term Members ProTrade - We will consider a small LONG position on a retracement back down to the 0.000xx - 0.000xxx area with a stop just below 0.000xxx and a target of 0.000xxx.
Medium term Members ProTrade - We will consider a LONG position on a continuation down to the 0.000xxx - 0.000xxx with a stop just below 0.000xxx and a target of 0.000xxx.
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