History is not repeating. History is rhyming. The mini bull cycle in 2020 was wave 1, the bear market wave 2. We are at the beginning of wave 3. And I think wave 3-4-5 all are happening by mid 2025. My target for the top is 161.8% of wave 1, which comes out to about $17.
1) DXY is clearly trading within a descending channel. 2) we got a pretty resistance ahead of us yet so important 3) just touching the resistance at 104.2 means breaking out of the descending channel. 4) a scenario where we meet this resistance and then a retest to the upper trend line of the channel and the continuation of growth, which is gonna send btc back to 32k.
If the support in my previous post doesn’t hold and btc decides to drop down to 32k then XLM will follow BTC and go down to 78.6% retracement level. I’m super bullish long term, but I’d rather buy either around 10.5 cents or 9.5 cents.
If btc continues to drop then XLM can find support on this trend line. If btc bleeds there’s a bother level of support that I’ll share in the next post.
This is not an idea. This is a warning for those who will be pulling their money out of Binance or start selling their crypto holdings because of CZ criminal case. The same thing that happened with Sam is happening here again. The terrorists in the American government are trying to manipulate the market, specially the people into selling their holdings. Right...
Good old support is acting as resistance now and a pullback to FWB:31K is gonna act like a spring that’s gonna send BTC back to 65k sooner than we expect. A very simple trend line yet so helpful and handy.
In my previous post I said I feel like it’s impossible for price to go back to below 10 cents. I take it back. If the first support level doesn’t hold, then we’re gonna head back to 9.5 cents. I’m gonna repeat for the 100th time, if BTC is headed for the 31k-32k retest, then there will be blood all over XLM which is gonna be good buy opportunity for long term...
I think price is stuck in an ascending triangle the result of which is gonna be a break out to the upside leading to ATH. It won’t happen overnight, but this is the only scenario I can think of in this bull market.
If BTC really plans to retest the $32k support, then there’s a high chance XLM will end up visiting 78.6% Retracement Level. I also feel like it’s impossible for XLM to go back to below 10 cents, but they say: never say never. Usually XLM exponentially increases in price only after BTC tops. There are two scenarios: 1) we’re going to 78.6% support 2) we’re headed...
All the details are laid out in the chart. Price is trading at support right now. I think support will not hold. Target 1: around 36.2k Target 2: around 35.9k
Price just broke out of the descending channel with a successful retest. This could be good news for the $40k people.
This support trend line is the determining factor for the next few days. Some are calling for $40k and some are calling for a retrace back to FWB:31K -$32k support level. I think the fate of this trend is gonna determine what happens next.
The 4H RSI doesn’t look good for now. Price failed to break out the descending channel and now failed to cross the MA on RSI chart. Short term I’m bearish.
So far price has found a beautiful support at the 50% retracement level and I think it will only hold on to this support if BTC doesn’t make lower lows and doesn’t go down beyond 7%-8%. If btc decides to go below $35k then this support will be gone in no time. We can find support at 61.8% and even 78.6%. It’s just that where XLM finds a support level to form a...
I’ve drawn a descending channel, but I’m not even sure if we’re really in a descending channel or not. I’ve two data points on top and two at the bottom. Price got rejected off the top of the channel and if it breaks above it then I think the bulls are not done just yet. If price stays within the channel and heads to the bottom of the channel then things are gonna...
Just something to think about. I don’t know if this will play out or a reversal will form toward $40k+, but this scenario is worth considering.
There are two types of long term investors: 1) those who have a bag full of BTC and are ready for $60k+ prices. They will definitely see these prices. 2) those who haven’t bought enough and are waiting for a support at $31.8k . They may never see $31.8k, but I really hope we do. 3) there’s a third type but I don’t consider them long term investors. I call them...
Listening to all the ideas about $40k-$50k, I really thought price was gonna bounce violently from the top trend line which many bulls wanted to see act as support. I don’t know why I’m using a 3H chart but we’ve got 30 minutes left on the candle and the price is well below the trend line. Looking at the candles the one before this one closed below the trend line...