xlm head and shoulders; almost guaranteed 2 trigger if btc rises

BITTREX:XLMBTC   Lumen / Bitcoin
1113 2
A whale has placed a 57 btc buy order on bittrex, boosting the price slowing.

however, he/she is probably forcing a mini head and shoulders before the btc pump.
the neckline is aroun 3700 and with strong support at 3500, buying a little at 3500/3400 makes sense, but also waiting to see just how much btc surges. we could see 3100 as well, which is where the 61.8% fib level is

Kommentar: waiting for 3100 only seems likely if btc surges to around 20K
Kommentar: The action has come to a stand still.

1 hourly and 30 min MACD right on 0 line.

btc currently 16,799 on coinbase. i could see another test of the final downtrend line should btc not move up in the next few hours
Kommentar: We hit 3350 and btc hasn't even ended it's downtrend yet.

Feel free to try and flip the dips, but as of right now it appears btc will end it's downtrend and I wouldn't expect any breathing room until consolidation at 20k.
Thank you for the analysis. Helps me to learn and much appreciated.
+1 Antworten
edit: 61.8 fib level at 3238, not 3100
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