XLMBTC: fractal study
Updated
This is an idea I'v been developing since January, I didn't want to post this until I had more confirmation because it is so bearish. But lately I feel like it doesn't matter anymore. As you can see each fractal is an enlargement of the small fractal directly in front of the the large fractal. These fractals are taken from 1h chart and superimposed on daily chart. They have been re-scaled to fit.
I think so far there is good agreement with price action.
These fractals are meant as a guide and not intended for use in calculating resistance/support levels. The most important aspect of any market is CONTEXT.
I think so far there is good agreement with price action.
These fractals are meant as a guide and not intended for use in calculating resistance/support levels. The most important aspect of any market is CONTEXT.
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Larger break of the 50 ma signals further drop. You can't short XLM. Next short-term long is around 3450 sats.Comment
XLM continues to follow the fractal down sadly.Comment
XLM pumping and breaking up from the fractal. No way to know how significant a deviation this is. Main resistance will be 50 daily simple moving average (pink)Comment
Comment
fractal is getting rektComment
The news is that today's XLM pump was due to some religious adoption hype + more non-committal IBM stuff. I don't believe any of it. The XLM boys wheel out the IBM thing everytime they need to cover up some behind the scenes pamping. Anyway I#ll wait and see. XLMBTC fell back under the downtrend. I think we'll see more sellling tomorrow. Buy target for me hasn't changed Comment
I now think XLM has a descending triangle structure with bottom at 2500 
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