Great technical analysis. I couldn't agree more. Xlm needs to see a nice correction before we go any higher. Too many noobs posting crappy ideas on this site. Barely anyone trading on the 1 day, because they're so focused on "getting rich over night".
RealMcafee
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@lakerz690, Let's look at it as an experiment for now. I think this week will tell. If the entire space goes batsh1t crazy, and BTC finally finds a bottom then this might be right.
whoisthelorax
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This was a beautiful wave 3 from September to December.
I agree that it's likely wave 4 drags on longer and these current prices need to consolidate further.
whoisthelorax
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One difference is that the wave two from may to September was partially based in the massive airdrop campaign xlm did. No more air drop.
RealMcafee
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@whoisthelorax, It doesn't look like the peak onwards of latest wave pattern is going to resemble the previous patterns that much as the crowd is trying very hard to break the market and push upward. I think consolidation now for all markets in general so XLM is no different imo. The price is high and it wants to go down. It does have Ichimoku cloud support now, unlike previous wave at this stage, but still think in a week it will be half the value it is now.
And yeah the fractals are super beautiful here. You can zoom into the small ones and see they have a similar shape too, really nice.
arisgrc1
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interesting perspective...will hold you to it..if it happens or not.
RealMcafee
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@arisgrc1, Right or wrong, I am just playing my part.