whoisthelorax
Long

xlm end of wave 4 and all wave 5 possibilities

BITTREX:XLMBTC   Lumen / Bitcoin
XLM             is perceived by many to be a top 10 coin and perhaps a true replacement to what bitcoin             was supposed to be, money that is actually used.

There are very clear macro waves in play and we are in a macro wave 4. we could be here for months, although the excitement around xlm             could make this weeks.

If you are a trader, you should've already sold if you held xlm             this long.

At this point, you can continue to hold UNLESS btc             dumps again. XLM             has already established a dump zone of around 3100 satoshis. if you are watching the markets and btc             clearly enters dump mode, sell your xlm             . You don't even have to run to USDT. just be ready to buy at 3100-3300 region. It could fall through there...but just givign you a way to increase your stack by 25%.








I am giving all the scenarios of ending wave 4 (good, ok, and bad) and all the scenarios of wave 5


wave 5
likely 1 to 1 move of wave 3
gets us to 8k/9k satoshi range, depending on end of wave 4





Dream scenario: Everyone is expecting strong alts to storm the gates of btc             dominance sooner or later.

XLM             could form cup and handle and then have blue sky breakout...

IBM's coin
decentralized exchanges using xlm             as revserve currency
lightning fast
no mining
sub cent fees

see extended fib levels for that possibility...


Not a pro on Elliot wave.... but wave 2 shouldn't be longer than wave 3.

Far more likely 6month cup & handle. With imminent fundamental news, and a likely turnaround for BTC in the coming month'ish... Focus on the shorter elliot waves, and corrective patterns.
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jpbrown1023 bananafund
@bananafund, is it possible wave 3 isn't done?
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bananafund jpbrown1023
@jpbrown1023, I'm really not the person to ask. I don't know.

The application of Elliot wave over such a long period of time (6months+ in this case) especially in the world of Crypto seems questionable to me.
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jpbrown1023 bananafund
@bananafund, Why? If Elliott waves are found in minute/hourly/daily/weekly charts, why not months?
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whoisthelorax bananafund
@bananafund,

Most elliot wave people see no end to the fractal nature of the waves. They pretty much all consider larger and larger elliott waves in formation.

I should note here that because we are trading in an exponentially increasing btc, technically we should use the xlm/usd chart for elliott waves. it's so hard to actually have 5 macro elliott waves in crypto because with btc increasing so much, wave 4 inevitably falls well below the peak of wave 1; which is a hard and fast rule that should not occur.

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