W0lfRAider

XLM (Stellar Lumens) on the way to make an upwards move?

BITSTAMP:XLMBTC   Stellar Lumens / Bitcoin
XLM BTC chart (4h) looks like a setup that can be played on the long side, certainly when 0.00000500 should be broken (breach of the purple resistance line acts as confirmation). 4h Bollingerbands could prove to be (temporary) resistance (possibly in confluence with that purple line). The chart speaks for itself I suppose. The red lines (under) show where support can be expected when no upwards break occurs, or when it works out to be a fake one .

A fake break-out (an initial move out of the wedge like pattern, which is subsequently reverted) can never be ruled out, so timing of the entry should preferably be managed through analyzing the lower timeframes. RSI divergence supports the possibility of a bullish move. A logical target is 0.00000700, previous resistance/top of December 25, 2020. Note that the upper line of a parallel channel could prove to be resistance as well.

My first idea on Tradingview, so I will probably struggle with how exactly to bring them in the beginning.

Comments

XLM USD indeed a break out followed by a retest. Could be going for a moonshot now. Also relative to btc I see things working out well for XLM. Btc (versus usd) I expect to keep making a parabolic upwards move with heavy (extreme) price swings on the way up. Its going to be a wild ride and please do stick to your gameplan (emotions ruled out as much as possible)!
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Nice Job!
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W0lfRAider RickDeutsch
@RickDeutsch, thx

I am now as we speak going to look how it goes. But Godallmighty, btc is a Beast.
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W0lfRAider W0lfRAider
My take is a final xlm low in play , look rsi again for comfirmation, I think it will resolve bullish but it's a strech. Btc price action vs usd is unreal really. I do like it but many alts are struggling btc wise
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RickDeutsch W0lfRAider
@W0lfRAider, btc is out of control. I am expecting a correction of course and it will drag alts down some more after just trying to stay at same levels before this pump. but it's crypto so who knows. chart it out my friend
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W0lfRAider RickDeutsch
@RickDeutsch, look btc now, xlm versus usd broke out. Now heavily retracing, I think a retest breakout level. Its out of control price action all over the place. try to keep oversight mate, as I try.
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RickDeutsch W0lfRAider
@W0lfRAider, Crazy stuff my friend. Do you have an updated chart?
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W0lfRAider RickDeutsch
@RickDeutsch, I apparently have not earned enough xp points to update my idea with a chart included. Tomorrow I will work on a 'new' Idea. But its clear the wedge is broken to the upside XLM/btc. In hindsight I was a little bit too early, a final tiny wave down has occurred; It looks even better now, the number 3 was in play (and it resolved bullish), and I feel you know that '3' is the most important number in Elliott wave theory. I try to clarify if needed in my next idea tomorrow. Thx for your feedback and support, already!
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W0lfRAider RickDeutsch
@RickDeutsch, update xlm usd posted. Later today xlm btc. Spoiler alert, HYPERbull
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