Hello traders! The long awaited BTC retracement is finally upon us, and the overall crypto market is following suit. For many of us this is long awaited and a great sigh of relief, for others it was entirely unexpected. Regardless of your belief in the bull run, what is happening now seems to be aligning almost perfectly with previous behaviors which is something that I find personally reassuring. It means what I learned at the end of 2020, and struggled with in early 2021 are all coming together in this moment!
TL:DR, it isn't over until it's over.
With all of that being said the ranges that XLM is expected to hit have already been hit once. $0.39 is the ~43% retracement level that is almost always hit after a High has been registered. For this bullrun the magic percentile is 47% which would be ~$0.36. Anything lower than that would be still in the realm of healthy retracement but shouldn't be expected. The halfway point is $0.345. If we pull below that the next likely stopping point is $0.24 which occurred similarly in February to March of last year from a level of $0.08 - $0.03. In my opinion the "bull run" or "Alt Season" is only over if we fall below those lowest levels. Then again it is not unheard of for there to be full retracements before new ATH's are reached which has also occurred in several bull runs in the past.
I will simply say this, the retracement isn't over, the lowest I expect we will reach is $0.24 for XLM, but have enough cash reserves in hand if we go lower, and always set your stop losses!
I am not a financial advisor so take all of this with a grain of salt!
TL:DR, it isn't over until it's over.
With all of that being said the ranges that XLM is expected to hit have already been hit once. $0.39 is the ~43% retracement level that is almost always hit after a High has been registered. For this bullrun the magic percentile is 47% which would be ~$0.36. Anything lower than that would be still in the realm of healthy retracement but shouldn't be expected. The halfway point is $0.345. If we pull below that the next likely stopping point is $0.24 which occurred similarly in February to March of last year from a level of $0.08 - $0.03. In my opinion the "bull run" or "Alt Season" is only over if we fall below those lowest levels. Then again it is not unheard of for there to be full retracements before new ATH's are reached which has also occurred in several bull runs in the past.
I will simply say this, the retracement isn't over, the lowest I expect we will reach is $0.24 for XLM, but have enough cash reserves in hand if we go lower, and always set your stop losses!
I am not a financial advisor so take all of this with a grain of salt!