SUMMARY
Elliott Waves states that news or events will arrive to justify the forecast. There is plenty of talk on Bitcoin manipulation by certain Cartels (banks/governments/nefarious entities). These are said to run a finely coordinated backroom planning to suppress Bitcoin. As a Technical Analyst, all I can say is that waves can be stretched but never controlled.
Stellar Lumen (XLM) seems to be almost there to the point of a breakout. Price is proximal to the apex. MACD is very proximal to the apex. Both have the same pattern. Does this look like a crash scenario?
Filled with the requisite subwaves; the price path could still progress laterally...but if Bitcoin (BTC) provides the lead to a breakout; the MACD for XLM could potentially go crazy bullish.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
BTC is expected to reach to a new height after september
Nobody can predict time factor :)
correct
BTC chart looks weak and will probably take another leg down
I'm sad for only understanding 40% of what you said.. lol but hey better than 0%! I'll get there, I hope. Still, cool post brah! :D
Maybe this will give you better understanding? :)
I expect it to plunge some more first and then will look for reversal:
I really appreciate it, I gather that the coin is supposed to go down first but then rise strong, but I'm really bad at this and words like "Moving Average Convergence Divergence (MACD)" are so way beyond me, it kind of makes mad! Like, "Damn these smart peoples and their smart talks!" lool I need someone to explain this stuff like I'm 5yo. Still, very interesting, thank you!
Hey @haejin your post is amazing actully your most of the post are awesome thankew for sharing the usefull post 👍😍
thanks for sharing technical analyst.....your post help me....thanks a lot
Good work man. Keep it up
I always watch well. Your analysis is very informative indeed.
I will continue to cheer for you.
Thank you for this valuable information
wow really amazing, very useful post, thanks for sharing each other
man thanks for share your complement.
what a great post sir?
Your analysis is really very informative ..
I will make you happy I'll follow your post anytime.
Thanks you
Thank you so much for encouraging me to comment
@haejin thank you for the information i do HODL XLM and i hope it moons soon cant wait to see the bull market kicks in and make us some serious money and make crypto the Global currency we hope for.
I expect it to plunge some more first and then will look for reversal:
Support this young African leader with an upvote. (link below)
https://steemit.com/minnowsupport/@focygray/support-for-new-upcoming-africa-leaders-support-theophilus
Thanks so much for your insight and consistent analysis. Appreciate it!