XLM Retracement Complete
Updated
I think at this point it is safe to say that the retracement is complete and the likelihood of another retracement to .32 or lower is slim. Currently there is a bull flag forming in the 5 and 15 minute charts that at the very least seem to project a push to the .43 range, or higher. If you look on this hourly comparison of XLM, BTC, the XLMBTC trading pair itself, you will notice that once the range has bounced from the bottom, or hit .000009BTC, that will be the range until the next parabolic movement.
That is not to say that there won't be a few ups and downs, or peaks and valleys on the way to .78 or thereabouts, but that we have hit the double bottom at .355. If anything, we might hit that level again, but I would put that only as a possibility after we hit .43. Eitherway, there is potential for only one more double digit retracement before the .30's are a thing of the past!
That is not to say that there won't be a few ups and downs, or peaks and valleys on the way to .78 or thereabouts, but that we have hit the double bottom at .355. If anything, we might hit that level again, but I would put that only as a possibility after we hit .43. Eitherway, there is potential for only one more double digit retracement before the .30's are a thing of the past!
Note
So far this is holding true, in fact we blew past .43 and hit .47, double peaked and retraced to just under .39 which is inline with the prediction that a double digit retracement was possible, but that .355 was likely no longer so. Still, it does seem that rather than taking off right away like the previous retracement there is a slower restart in place, which has also been predicted. Given that reality, it is possible that we trade sideways with marginally higher highs, and higher lows, until we achieve a breakout.I would guess that our next point to hit is .49 - .51 with a retracement to .4 - .41 and similar patterns until crypto resumes its parabolic high. The other thing to note is that 3 legs up are significant, and there is that possibility .608 was the high, and we enter into a 3 - 4 month bear movement before skyrocketing to ATH and price speculation. In this case I would recommend keeping a strong eye on the XLMBTC levels as those are very strong indicators of peaks, and bottoms.
.000012 is the "High" for any given trend until Rocket movements, .000005 is the "Low", local highs are between .00001077 - .00001150. We have been trading in that channel since 2019, including the meteoric rise to .608 USD, that was a mere .00001271. In April 2020 the number peaked just above .00001500 XLMBTC. So for now, I would say we haven't entered "ATH" "Alt Rally" phase, but that we are still in the local channel that sets the highs at .000012 and lows at 000005
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