Hello,
XLM is not looking bad to me. It looks stronger and more resistant than other cryptos, because it seems that the huge correction from all-time-high is already over, which ended in march at 0.1539$. I am not 100% sure, but it’s more likely than a continuation of the correction.
So let’s take a look
It seems that the correction started at all-time-high (wave 1 superordinate) and ended as a triangle at 0.1539$ (wave 2 superordinate). Since then we probably have seen two 1-2 elliott-wave-setups.
Scenario 1
We are at the end of wave 2, so there’s a good chance to make the turn around into wave 3 of 3 of 3 – the strongest wave pattern. On the upside there are two more key resistance levels waiting for the bulls to fight.
Scenario 2
XLM is going down to the last supporting zone (at about 0.18$/0.15$) and starts rallying from there.
Scenario 3
It’s going to hell: 0.04$/0.03$).
I am thinking of buying some…
Please leave a comment or a message, if you have any questions!
If you have any other ideas, please leave a comment here!
Take care
tgo
XLM is not looking bad to me. It looks stronger and more resistant than other cryptos, because it seems that the huge correction from all-time-high is already over, which ended in march at 0.1539$. I am not 100% sure, but it’s more likely than a continuation of the correction.
So let’s take a look
It seems that the correction started at all-time-high (wave 1 superordinate) and ended as a triangle at 0.1539$ (wave 2 superordinate). Since then we probably have seen two 1-2 elliott-wave-setups.
Scenario 1
We are at the end of wave 2, so there’s a good chance to make the turn around into wave 3 of 3 of 3 – the strongest wave pattern. On the upside there are two more key resistance levels waiting for the bulls to fight.
Scenario 2
XLM is going down to the last supporting zone (at about 0.18$/0.15$) and starts rallying from there.
Scenario 3
It’s going to hell: 0.04$/0.03$).
I am thinking of buying some…
Please leave a comment or a message, if you have any questions!
If you have any other ideas, please leave a comment here!
Take care
tgo
Note
Were we are standing now?On a very important key-level!
Let's have a closer look, to see precisely the importance of the situtation now...
The yellow boxes are the sore points where the battle is decided.
Take care,
tgo
Note
Scenario 2 or 3 seems to be the most likely...
HK-Capital-Management
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HK-Capital-Management
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.