Before we get into it, I'd like to say that this technical analysis was biased on a BULLISH strategy. This chart was made completely based on looking for bullish patterns.
Here's my interesting way of looking at it.
The Triangle Continuation Pattern
- Start of the BULL run for BTC
- Just something I've noticed, at each swing high, or start of new triangle, the range of percent increase ranges from 150%-260%.
- What follows after the increase in price, is a 40-50% decrease
- Correlates with BTC in a way, a few days, or weeks after XLM's increase, BTC increases as well, you can confirm this on your own for each of the coin's swings
My Bullish Outlook
- XLM can go two ways for this bullish chart
- 1) Repeats history and follows the triangle continuation pattern and potentially reach 1$ ( AS XRP HAS )
- 2) Drives into a potential cup and handle indicator, falling in price a bit (Maybe still in correlation with the triangle continuation pattern, look at swing #2), and skyrocketing afterwards, again, to 1$ potentially
Things to keep in mind
- BTC bullish or bearish?
- Any XRP correlations? (I did not check)
- Other indicators that can possibly refute my claims?
Anyways, that's pretty much it, I'm bullish on XLM.
0.75-1$ next spike!
Here's my interesting way of looking at it.
The Triangle Continuation Pattern
- Start of the BULL run for BTC
- Just something I've noticed, at each swing high, or start of new triangle, the range of percent increase ranges from 150%-260%.
- What follows after the increase in price, is a 40-50% decrease
- Correlates with BTC in a way, a few days, or weeks after XLM's increase, BTC increases as well, you can confirm this on your own for each of the coin's swings
My Bullish Outlook
- XLM can go two ways for this bullish chart
- 1) Repeats history and follows the triangle continuation pattern and potentially reach 1$ ( AS XRP HAS )
- 2) Drives into a potential cup and handle indicator, falling in price a bit (Maybe still in correlation with the triangle continuation pattern, look at swing #2), and skyrocketing afterwards, again, to 1$ potentially
Things to keep in mind
- BTC bullish or bearish?
- Any XRP correlations? (I did not check)
- Other indicators that can possibly refute my claims?
Anyways, that's pretty much it, I'm bullish on XLM.
0.75-1$ next spike!
Comment:
Ripple definitely has had an effect on this coin, and especially Bitcoin obviously.