XLM Long Term H&S?
If you are anything like me you are DUMBFOUNDED at the behavior of crypto these past few days, with ETH approaching its ATH, BTC doubling its previous ATH, and the rest of the alt coins making some of the largest gains in 2 years. I have no idea what kicked it off and I am not upset at all, however, the behavior is incredibly hard to predict until after a specific period of time has passed, typically 7 - 14 days. Given what we have seen in the past week, a meteoric rise, a peak, a minor fall, and an unwillingness to correct to the "full 50%" of the peak, which is typical of ANY coin, leads me to believe that all of this behavior, in the long term, is a set up to form a H&S pattern that will likely peak at something approaching $1, then plummet to either the low .50's, the mid .40's before bouncing back to some arbitrary peak below $1, and then make its way back down to our present day ranges of .30 - .40, or absolutely crumble to our previous .20 - .25 levels and lower, completing the long term H&S Pattern.
As for the actual ATH range? I think, given this weeks performance $1 is well within reach for XLM, which is a soft ATH for the beginning of the bull run which historically gives x1 - x2 of previous ATH in a short term burst, a correction down to previous ATH levels, a few weeks or months of boring trading, then finally the "true" ATH which in terms of BTC is usually x4 - x10, and for alt coins is anywhere from x10 - x40 or even greater! So for now, I would set your sights to $1, buy in as safely as you can over the next day or two, and whenever it takes off... well buckle up!
As for the actual ATH range? I think, given this weeks performance $1 is well within reach for XLM, which is a soft ATH for the beginning of the bull run which historically gives x1 - x2 of previous ATH in a short term burst, a correction down to previous ATH levels, a few weeks or months of boring trading, then finally the "true" ATH which in terms of BTC is usually x4 - x10, and for alt coins is anywhere from x10 - x40 or even greater! So for now, I would set your sights to $1, buy in as safely as you can over the next day or two, and whenever it takes off... well buckle up!
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