What's up traders, investor's and the unemployed moonboy Jimmy's who keep praying for more stimmy's !! Here is an update on XLM. It's not looking good at all. As a matter of fact, the whole crypto market looks like shit. The reason for this is because of the DXY AKA (US dollar index) taking off and the bullish pattern it's showing. Now if the DXY decides to take off to the $96-$97 range, than we are heading straight into the toilet. I see a stock market crash coming, a crypto bear market coming and lot's of fear and panic selling. The stock market already started a huge sell off. As for XlM, it's hard to tell if it will just break $.20 and head down to $.10-$.12 right away. I see us retesting $.20 and getting a bounce. This does look like a deep wave 2 playing out to me. I'm hoping the DXY trades sideways and decides to take a dump which would be great for crypto and markets however I have no control over that. One thing I do know is that when there is fear, it's time to buy. Millionaires are made in bear markets, not bull markets. Remember I said that. For XLM to have any prayer of an up trend we must hold $.20. I'm not telling you to sell all your XLM. You should have done that already!! I will adding to my XLM position if this idea plays out. The DXY rising is really what worries me. That would be very bad for bitcoin and markets and would basically conclude that we will be entering a bear market and see lower lows on XLM. My starting point is $.20 and I really hope it holds. This is not financial advice!! Good luck guys.
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Not jumping the gun here, but did we just see a fakeout? Gotta love crypto..lol