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Dangermousebanana
Feb 22, 2022 5:03 PM

XLM - looking bearish to me !! Short

XLM / DollarBitfinex

Description

Break-down out of triangle.

Back-test

Downward move.

MACD cross down on the Monthly time frame.

NOT pretty to watch.
Comments
FlowersFor
do u use Bitfinex chart, because its not whole and looks more bearish? Try coinbase and u see everything and then u got right MACD value.
Zero_Gravity
If, and that's a big if, that is a Triangle, per EW, we would expect a smaller move down, but it would be followed by a larger move up. (Macro wave 5).
Dangermousebanana
@Zero_Gravity, thanks for commenting. All the best to you !!
FlowersFor
@Zero_Gravity, But this chart is incomplete, he was using Bitfinex. if he was using coinbase he got 2015-2022, now he see only May 2018-2022. and Using monthly time frame MACD is false indicator
FlowersFor
When monthly Macd is goint down and its around half way down, price can be allredy close the bottom price.

Monthly MACD got a huge Lag and its a bad indicator.

Just like the last time, price was almost the bottom when monthly Macd was half way down.

And be sure when u look Monthly MACD that u got lot of history on the chart, or it will be false indicator.
Dangermousebanana
@FlowersFor, my MACD was on the monthly. I think price is in line with indicator and I do NOT think we are close to a bottom yet. However I thank you for commenting !! It adds value to this space.
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