SforShiraz

SforShiraz

My thoughts are laid out in the chart. Not sure if this scenario happens or not, but for the uptrend to continue, price needs to find support around 57-58k, otherwise price might dive deeper to 53-54k, which is going to shake a lot of people as it rightly should.

SforShiraz

I think the scenario depicted in the chart is a possibility. i have no analysis to back up this scenario, it is just a thought derived from parallel lines and channels and i believe this could play out.

SforShiraz

Well, this looks like a reverse cup & handle and the formation is nearly complete. if we go back to the black support line again, most probably price will break below support and the next destination will be the orange zone. have fun with your alt season.

SforShiraz

Price action has been crab walking for the past 6 months. this broadening wedge has been violently tested through the blue resistance and purple support lines. We can only say we are still in a bull market if price manages to break and close above the blue resistance trend line. breaking down and closing below the purple support line imo is an indication of a bear...

SforShiraz Updated 

XLM is struggling to make a higher high. the two black lines represent support levels. we are above the upper support level which is a good thing. If price closes below this level we will head to the lower support level which is around 9 - 9.5 cents.

SforShiraz

Usually falling wedges are bullish, well, in this case, it turned out to be bearish. Best case scenario price is gonna hold at 56-57k, if it does not hold those levels, then you need to be ready to welcome an early bear market. my hope is that 56k would hold as a strong support and we form a reversal there to head to ATH.

SforShiraz

Simple but important levels and concept. Black Arrow = Resistance Blue Arrow = Support there are two parallel lines. the upper parallel line has been acting as both support and resistance shown with arrows. right now this upper trendline is acting as resistance and the next support is the lower trend line which is around 56k-58k, which means price has broken...

SforShiraz

This is a beautiful cup and a bottoming pattern which again should worry the crypto moon boys calling for alt season. the alts are the sale of bitcoin and bitcoin is the slave of DXY, so if this indeed is a bottoming pattern for DXY and a cup formation, then we have to say goodbye to the crypto bull market and say hi to the DXY bull market. the crypto moon boys...

SforShiraz

DXY is in a very important situation, where any more will impact the entire crypto market. breaking out of this resistance can send bitcoin to the 42k-44k. if dxy does not break above this resistance level then it will give btc the chance to breathe and go for all time highs (maybe).

SforShiraz

This pattern looks like a cup and handle and it will only be confirmed if it breaks out of the cup and handle resistance line. once that happens, i expect a bullish move to 112, whcih means the beginning of the bear market for Crypto market, gold, and stock market. if price rejects this level and the cup and handle does not complete then we will have to see how...

SforShiraz

XLM must be able to break through all these resistance levels for a reversal. based on price action xlm has rejected every single resistance level and has failed to find support. alts bottom out after btc, the bottom for this bearish move is not in. price action says xlm will reject the next resistance level and will not find support leading t a lower low back to...

SforShiraz Updated 

Usually when the bottom is in, price forms a type of a reversal or something. If you're holding xlm then you better pray to God it forms a double bottom here and forms a reversal, otherwise back to 7 cents.

SforShiraz Updated 

usually when price breaks above a trendline, a successful retest is a pull back to the trendline and a violent buying pressure. we will assume that my trendline is correct. if xlm is really in a bull market, then upon breaking out of the triangle and a pullback to the trendline it had to print multiple green candles and hold support above the trendline. what we...

SforShiraz

Support and Resistance trend lines are shown. we will go to support before breaking out of the triangle to the upside. buy area = $0.07

SforShiraz Updated 

this is alt season in reverse. the scammers on trading view have been selling you alt season for a few years now but when price goes below every single support level in its path and cannot break above any resistance level, the only direction is down to hell and also im sorry for saying this, but most people relying on scammers for trading data deserve that hell.

SforShiraz

a close above the red resistance level is an indicator of the continuation of the bull market. a close below the green support line is just the market's way of burning everyone to the ground, which it has done many times. if you play with fire, you burn. if you protect your asset, you thrive.

SforShiraz

this looks like a bearish divergence to me and a potential double top on the 4h chart. if you don't like it, it's your problem, but don't say i didn't warn ya.

SforShiraz

there are illiterates on trading view scamming people into buying this chart. if you want to buy, go ahead and buy, but at least be a little reasonable before doing it. price just closed before a very important support, usually in these cases price goes back to the black trendline and turns into resistance and price drops again. it is only reasonable to buy if...