Over the past few days I have been eyeballing XEL/BTC lining myself up for what I feel like will be a big move for the coin. Zoomed out you will see a bigger picture of the #4 dip starting to form which has taken longer to find the new low. The coin has bounced off of the .786 fib retracement once and was rejected. An uptrend is starting to form but the...
XEL is retracing back after a stong bull run, and it's looking like it's coming to a great time to re-enter. There are 2 possible areas that if the price were to start a new elliot wave cycle, it would bounce from. We're currently in a retracement phase and it's looking to come to an end around the 0.618 Fib level. Those 2 areas are:
1. A previous long term...
We have reached support line and we are now in a decending traingle wedge.
soon the breakout will follow..
target 28k to 30.5k
stoploss under the support ling - Green
So I bought some XEL recently based off of hype and because I've been studying/practising my Elliot Wave Analysis, Fibonacci, and Ichimoku. Not how I usually do it, but I learn best when I'm invested, so I dropped a small amount in to see what would happen. Worst case scenario, I lose/pay some money for my TA education. This one is pretty clear to me from an EW...
Looks like a nice wide cup and handle forming on XEL which makes for an Xellent trade. Don't be surprised if it dips down to .000165 as it needs to get that Elastic bounce up just as everyone thinks it's dead rubber. Target is .00038.
Enjoy!
beautiful "bull flag", nice buy support, low sell side and low rsi. All of these tells me that we are in for the next wave up.
Be careful if bitcoin explodes :)
Buy my bags pls
