Generally: This is a limited scope fib retracement, supporting the trend-based extension. I will regularly plot these for 6 or more pairs over the next 12 months in order to complete an backward looking analysis on a series on tools (TA and others), used by many in trading/investing in crypto. ETHUSD
, QTUM, XLMBTC, SCETH
Dotted lines indicate confluence of two or more points identified with multiple Fib retracements.
In my view, XLM
will move to 0.00055, but struggle much further. Limited history, but XLM
follows very the the support and resistance
levels tight. I expect plenty out there are waiting on these points to be made and will execute / sell.