Option 1 Bearish 1-5 Impulse: Bottom at 2910-3040, ABC correction to 3310-3520
Option 2 (not shown in this chart): ABC correction finished around 3300, now could start a new 1-5 Impulse to 4310-4470.
Option 1 is more likely to happen due the presence of Falling Wedge structure (shown in the chart) and two H&S patterns completed (not drawn).
Trading Bias: Short
Technical Strategy: Harmonic Bat
**FULL DISCLOSURE. I AM NOT TAKING THIS TRADE**
The only crypto I will trade is Bitcoin/Eth/Ripple
I happened upon this chart by request of a TradingView user and made analysis for them.
--> Wait for price to reach the D point / Sell Zone. Once in the Sell Zone shorts may be taken. If you need help ...
Buy Price: Green Zone
SL: Red Line
Profit: Blue Lines
Invest Suggestion: 20 Percent
Profit Expectations: 10 - 30 Percent
Looking at the chart of XLM, we could see all indicators pointing to sell it! But we have a hard fork on this coin on 9th December( this might causa a reversal tendency)!
Also, RSI is oversold!
Guys and Girls, this is a risky trade due to ...
As you can see, I've been following XLM for the long time.
XLM has broken its local trend support line, and now is going down with no retracement.
But down there are several strong supports:
1) 0.85-0.786 Fibo zone
2) Trendline Support
3) Strong support line on 0.00003300 BTC
4) RSI is on its lowest value since Jun.30 , ...
I think we just loaded enough longs for future growth. This drop was expected. Typical situation when the instrument consolidates in some area and drops just before the growth to push people who are doubting or entered position in a wrong time to close their positions and quit this trade.
There is no actual pattern which will push us higher. But this area ...
Stellar will always be one of my favorite coins, but right now, it's on the verge of breaking down. Watch this 3500-3600 area. If we go below, there are some fairly low targets, especially in USD value. XLM has made it to the top 4, which is promising, but it's starting to lose some steam. We really need to see a bounce now in order to continue the bullish trend ...
Everything on this chart starts/runs on symmetry and time tested areas. It's my belief that in crypto the API linked exchanges do a good job keeping the prices in sync. However, With this there is a backlog of prices that each exchange needs to retest because there were so many orders to buy, some exchanges did not have the sell orders to actually fill the buys. ...
Hi again, I really didn't expect such a dramatic fall in BTC recently so my prediction of buying XLM at 0.195 ended up being wrong For that I apologise.
What I expect from here is BTC to fall a little further over the coming days and weeks and with it the rest of the cryptosphere. 0.08c is a strong support for Stellar but not a lot in between unfortunately. ...