XLM stuck between a btc rock and hard place
Everything is tied to bitcoin, so after we consider the two options, we will consider the likely scenario of how these could play out.
Option 1: EW preserved, we never close a daily candle below 3000 satoshi.
wave 5 can take off when FA gives it a boost. (Fairx ?)
Now, the 3 likely BTC scenarios
1) btc crashes to make LL that $6k.
risk assessment: moderate/high
xlm will likely crash as well, probably finding support with 100 MA (currently 2700 sats). Could very easily close a candlestick in danger area
2) btc surges bigtime
risk assessment: high
xlm will likely dump in btc price. if we blast off from here right back to ATH, xlm will dip down to 3000 sats easy. EW failed, also your xlmUSD price will probably be fine if not better than now.
3) btc goes into equilibrium pattern on daily (higher low, lower high, higher low, etc)
risk assessment: low
best case scenario.
btc goes to 14k, then 11k, then 13k, 12k, then POP! in-between that time, xlm can better set up supports above the danger zone and prepare for launch.
Option 1: EW preserved, we never close a daily candle below 3000 satoshi.
wave 5 can take off when FA gives it a boost. (Fairx ?)
Now, the 3 likely BTC scenarios
1) btc crashes to make LL that $6k.
risk assessment: moderate/high
xlm will likely crash as well, probably finding support with 100 MA (currently 2700 sats). Could very easily close a candlestick in danger area
2) btc surges bigtime
risk assessment: high
xlm will likely dump in btc price. if we blast off from here right back to ATH, xlm will dip down to 3000 sats easy. EW failed, also your xlmUSD price will probably be fine if not better than now.
3) btc goes into equilibrium pattern on daily (higher low, lower high, higher low, etc)
risk assessment: low
best case scenario.
btc goes to 14k, then 11k, then 13k, 12k, then POP! in-between that time, xlm can better set up supports above the danger zone and prepare for launch.
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Comment:
Option two is looking more likely
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bearish AF. no bounce.
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kinda funny it landed RIGHT on my top of the danger zone. you watching me, MM?
Comment:
2 things.
1) we may get a bounce from an inside bar break on the daily. 50 MA is now strong resistance.
2) 100 MA creeping up around 3k sats. First location I would look for a bounce...but I would be looking for a bounce and sell. not holding yet.
1) we may get a bounce from an inside bar break on the daily. 50 MA is now strong resistance.
2) 100 MA creeping up around 3k sats. First location I would look for a bounce...but I would be looking for a bounce and sell. not holding yet.
Comment:
This looks so bearish I don't even want to play the 100 MA bounce.
Not XLMs fault, most alts are stuck right now.
Alt season I'll come back soon, don't worry.
Not XLMs fault, most alts are stuck right now.
Alt season I'll come back soon, don't worry.
Comment:
Confirmed no bounce. Next powerful entry likely when xlm bottoms out on daily rsi