This is an update on my previous post on XLM/BTC. This includes my predictions for price targets and possible buy points for the final Elliot Waves. Based on the first wave correcting at 0.5 fibonacci level, i estimated wave 4 to be around the same. Then wave 5 may hit the major resistance at the previous high. Also, when i looked at the RSI i noticed it was nearing the oversold area which could potentially mean a reversal coming to end wave 4 and begin wave 5.
Feel free to comment anything wrong with my analysis and let me know what you think!
Kommentar
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Looks like the issues with bitcoin and tether right now have had a big downtrend in the market. Since bitcoin is dropping these analysis' wont be as accurate because of how bearish the market is right now. We need to see bitcoin hit bottom and start to rise again.
Just bought another 1000 Lumens in that dip/zone. This ride is taking longer than I had expected, but I feel very good about it since I know exactly where we are and what the targets are. Good times. Quite a diff feeling when I’m in a trade like this with all the info tracked, mapped and projected verses some of those gambling like moves I’ve done.;)
nickd534
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@ABear, Hey lets hope its correct then. I am not currently trading at these points i'm holding until i get over the previous price i paid for stellar when i had lack of knowledge about charts. I ended up buying close to the highs and now i feel stupid for doing so haha. Just know my predictions may not be 100% so do your own research also as i am still a beginner.
chaney122
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I really need this to be what you're predicting. :)
nickd534
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@chaney122, yeah me too haha i believe stellar has great potential
hardeight
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Do you see a level of support if wave 4 continues to the downside....nice work. Hope you are correct. Seems like all alts trending with BTC
nickd534
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@hardeight, support level of wave 4 would be the horizontal line of where the top of wave 1 is (around 4750 satoshi range). The wave 4 cannot move further down than the top of wave 1 according to the rules of elliott waves. As of now we are looking to be hovering around the range i have highlighted so its looking pretty good.