XLM trade ideas
Elliott WaveCurrently i would vote for white pattern to be continued.
Lower time frame corrective retracement should be longed with a propper stop loss.
There are aditional Macro corrective posibilities when it comes to this asset.
Currently i am of the opinion that we are having a Flat wave 2 until proven wrong.
$BTC and #ALT coins idea: Identifying the end of the bull marketI've been getting questions from a few friends and people about when the "top" will be in and what my plans are to try and be part of the "smart money" that sells the top and buys the bottom. Now first let me be clear, if anyone knew when the top and bottom were going to be? They'd be the richest person in the history of time... but that's the point; No one knows when the top or bottom will happen, so we have to go off of what we know! One great way to look for the changing winds in the market cycles is to look at history and see some patterns that might have shown themselves.
In these two charts, we're looking at the weekly $BTC price action, and the historical XLM cap. The point is so that we can see when the TRUE #altSeason actually happened, and to notice something interesting about it.
In the weeks of Dec 18th, and 25th, 2017, and Jan 1st 2018 bitcoin had reached its all time high of $19,891.99, and subsequently corrected in the following week to $10,400.00, and then pumped back to $17178. During that three week period XLM's market cap increased from 2.5 billion to 17.5 billion dollars. IN 3 WEEKS!!!! THAT my friends was the first real #Altseason! and one of the greatest opportunities ever to sell the top. However, a TON of people didn't pay attention, and in their euphoric state thought to themselves "this will keep going up forever!!! Everyone is going to get rich!!!"
The point I'm trying to make here, is that history doesn't always repeat itself... but it often rhymes. I personally am committed to NOT holding a bunch of bags of prospective alt coins, and I will be looking for this blow off top, and the following couple weeks as real opportunities to cash out of my bags and sell into the euphoria.
I'll be holding on to most of my $LINK for staking, as I don't care what price it goes to in the next 5 years. I'm hyper bullish on the need for decentralized oracle networks and Chainlink is the solo mover in that market and they've also built a fantastic network to boot. I think their partnerships alone speak the truth of that. I will also be holding ALL of my $BTC. I'm never selling that, as I would like to avoid the tax consequences of that, as well as avoiding getting stuck holding a hyper inflating USD.
Plan ahead, do your research and don't be consumed by greed, and you'll make it fam. We're all gonna make it :).
This is a question: Anyone know what this means? I wanna know what the next low will be. I’m extremely new to chart analysis, so I apologize if you feel like this wasted your time—not my intention. I’m hoping the comments can be an avenue for those who know TA to answer what I assume others also have as questions for this type of thing. Can I even go my Market Cap for TA? What’s the best chart for this situation, would it be XLMBTC since it would be a deviation away from its dominance? Thanks in advance.
