BigDataBarista

BigDataBarista

Here's EXACTLY the sort of confusing technical analysis that gets one into trouble. Aside from that, there are three confirming patterns between two different methodologies. The first is those hard to see letters - that's an Elliot Wave, which, in theory, should correct in a three wave increase from the 10K-ish bounce. The problem is, both the decline and the...

BigDataBarista

Take the latest high, compare it with the most recent solid low on the chart, and the Fibonacci retracement shows the current Stellar Lumens per U.S. Dollar right at the 61.8% level. That's a technically important support/resistance level in Fibonacci patterns. It looks to me that if it breaks through that level, say, upward past 65%? 68%?, we've got a confirmed...

BigDataBarista Updated 

Nothing fancy here, no high school math or doctorate level analysis. AFAIK, this pattern meets the criteria for the first 5 waves of an 8 wave Elliot formation. The implications are: A) I'm calling a $2.00-ish price ceiling , with a bias to being below it. There may be a 1% overage, I could call that a false breakout. If it hits 5%-8% breakout over $2.00, (...