RATE Group | Long Bitcoin, Bullish on Altcoins – XLM, VET, ONE
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Long Bitcoin, Bullish on Altcoins – XLM, VET, ONE

08 Nov Long Bitcoin, Bullish on Altcoins – XLM, VET, ONE

Posted at 17:19h in Bitcoin News by

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Altcoins have been inching their way deeper into my trading routine and this seventh entry of the crypto trading journal features a newly opened position on VeChain (VET), as well as a timely buy of Stellar Lumens (XLM). I am still long on Bitcoin (BTC) from under $9,000, as price moves sideways.

XLM/BTC

Part 1: Setting up the trade

Entries: .00000800 satoshis (sats), .00000870(sats), .00000797 (sats)

Targets: 0.00000940 (sats), .00001044 (sats)

Stop loss: The first stop loss was set at .00000781 (sats) on the breakout. As usual, I move this up to follow the price when required.

Risk / reward: Target 1 = 7.37, Target 2 = 12.84

Entry Idea

A member of the TexasWest Capital Discord asked me to chart XLM a few days before, and I identified the .00000797 (sats) area as a place that I would consider buying. In a surprise announcement, the Stellar Lumens team decided to burn 50% of the coin supply, causing a large and fast upside move, which caused my alarms at .00000797 (sats) to go off. 

My…

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