STXUSD has now beautifully broken out of the triangle after an impressive textbook correction at the 0.618 Fibonacci retracement.
This type of correction is a typical feature of wave 2 in an Elliot wave count, which indicates that STXUSDT is now ready to embark on its third impulsive wave, often referred to as the most explosive one.
Considering the increasing volume, an explosive surge in the number of transactions on the network, and the oscillators, we can expect a swift development in the price towards the following resistance levels: — 0.57 — 1.06 — 2.85 — 5.96 — 8.16 — 13.17.
#stxusdt #stxusd #BNS #DeFi #BitcoinNFTs #Stacks
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Exciting update on my 'The Road to $66 for Stacks" analysis: A pivotal moment is approaching as we near a Fibonacci circle. These circles are powerful tools for financial analysis, identifying support, resistance levels, and potential turning points. Mark your calendar for August 14th – expect insightful market developments over the next two weeks!
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On August 4th, I predicted significant developments for the 14th using a Fibonacci circle. My forecast was accurate, but the expected positive outcome didn't materialize. However, it seems that $0.57 is currently back in play. Bon appétit!
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$0.81 next resistance.
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COINBASE:STXUSD has found support at the 0.236 Fibonacci level on the daily chart.
Upcoming targets: - $0.81 - $1.01 - $1.26
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- $1.73 ✔️ - $1.26 ✔️ - $2.58 next.
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$1.73 --> $2.05 --> $2.58.
2024 is set to be a big year for NASDAQ:STX, as we witness the growth of a CRYPTOCAP:BTC economy. Apps and smart contracts will be running on Bitcoin, marking a shift in the narrative that's been happening gradually and is now happening quickly. With Stacks' Nakamoto release and sBTC in Q1 2024, a true Bitcoin Economy will take off, unlocking $500 billion in #BTC capital. Welcome to a fresh, decentralized #Internet, built on the most secure network out there
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NASDAQ:STX Cup and handle pattern identified on the 4-hour chart. Currently testing the 0.786 Fibonacci resistance level for the third time. It's on the verge of a potential breakout towards $2.05 and $2.54.
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$1.73 ✅ $1.26 ✅ $2.05 ✅ $2.54 ⌛️
Check, check, check! COINBASE:STXUSD is on a joyride. If COINBASE:STXUSD breaks the resistance at $2.05, then buckle up for its journey to the next stop: $2.54!
You've been selected to Editors' Picks on our front page! Check your DMs to get $100 at the end of month 👀 Thank you🎉
joerivdpol
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@TradingView, What an amazing surprise! Thank you for choosing me for Editors' Picks on the front page and for the generous $100 reward. I really appreciate it!
zAngus
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Congratulations, this publication has been chosen for the Editor's Picks by @GoldCartel one of our moderators and will be featured on the Home Page as well as tradingview.com/ideas/editors-picks/.
@GoldCartel described it as "An impressively well-described technical analysis that employs simple price action, Elliot Wave, and Fibonacci principles. It has been proven that mastering uncomplicated price action, coupled with exercising patience while awaiting the opportune trading moment can yield highly favorable trading outcomes."
Good call on the trade, and thank you for your valuable contribution to the TradingView community and keep up the good work!
joerivdpol
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@zAngus@GoldCartel, Hey there! I'm genuinely thrilled about this great news. A big thank you for selecting my analysis for Editor's Picks. Your description of my analysis means a lot, and is truly motivating! I'm excited about the opportunity to contribute more to the TradingView community. Thanks again!
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