So everyone’s posting bullish posts agains because XLM has gone up one cent. I’ll just throw this out here…
Breaking out of this hell hole deserves a celebration, if the market doesn’t act irrationally like always and price doesn’t go back into the descending channel.
XLM has the potential to hit a ratio of 1:1 against XRP.
If btc dominance does not manage to break out of this descending channel and the resistance stands as it is, there’s a chance dominance will drop to the bottom of the descending channel giving the Alts some room for breathing.
If you’re bullish on Dxy, at least wait for it to clear this resistance level. Calling for 115 and 120 and 140 without technical evidence nor confirmation makes you sound no different than the Bitcoin moonboys.
47k is an important level to watch. A successful retest of this level means we will head to the 52k resistance level. a failed retest and a breakdown from 47k means we will see 45k again.
This is not an analysis. I’m just posting this chart to shit on those who are calling for an overdue crash. Since the end of the bear market, bitcoin has had four 20% corrections, but somehow there are still a bunch of halfwits who call themselves analysts, experts, and traders on trading view spreading their bs about a crash. Are you really that dumb and don’t...
DXY has 42 hours before the weekly candle closes as a shooting star. If the index does not fluctuate to the upside before the weekly candle closes, It could mean that a potential trend reversal is ahead. A single candle is not good enough of an indicator to predict market direction. I’m just sharing what I see and what it could possibly mean for the index. Even if...
I want you to see how there was an established ascending channel and then it broke the structure, but still after a long time it managed to get back into the ascending channel and continue the trend. I just feel like this market structure rhymes with what we are going through right now.
I just want to throw this out there and let people know that an ascending channel exists and while we may have gone below the ascending channel I thought it would be interesting to consider this scenario. I’m not predicting this will play out. It’s just an idea for entertainment. I’ll share another post after this and I want you to see how these two ideas rhyme...
This scenario is a possibility for the long term, but I have no evidence to support such a scenario. I just know the next few weeks are gonna be crucial for this idea to hold. DXY is headed for the resistance line of the descending channel and a breakout + a successful retest of the breakout will cancel out this possibility.
XLM has to go through lots of s***t to regain its dignity against BTC. The pair is currently trading within a descending channel. Upon confirmation of the bullish divergence on the weekly RSI and a breakout from the channel, I have set my sell target for the pair between 0.000014 and 0.000015
I just wanted to share what I’m seeing on the XLM/BTC weekly RSI chart. If I’m not mistaking a bullish divergence is forming on the weekly RSI indicated by the lower high forming on the RSI chart and the lower low formed on the price chart. Honestly we can only confirm if this is a bullish divergence if the RSI does not go lower and keeps rising from here.
The trend is your friend and the btc moon boys are your enemy. There’s not much going on here. A broken uptrend and a 48% as the initial target. I can’t say where we will be heading after 48%, I just know the trip from 53 to 48 is a good sign for the enslaved alt coins.
XLM market cap dominance has broken out of a 5 year old falling wedge and it is currently retesting the breakout. We will find out in the next few days whether it will be a successful retest or a failed breakout. For a successful retest we need a violent spike in the market capitalization relative to the rest of the market.
Just posting this because I think this is a pretty example of a rising wedge. The retest is spot on.
Old resistance has turned into support indicated by a successful retest. Target 1 is the first resistance level ahead and target 2 is the second resistance within sight. Upon closing above target 2 with a successful retest it is appropriate to use Fibonacci extension to identify potential targets.
History says we are one weekly candle away from 1.5-2 dollars. History also says crypto market is enslaved by btc. So if btc goes down all the slaves (alts) will go down with it.