XLMBTC has appeared to end the final wave of its correction on the most recent run-up. I have also included a pic that pulls back so you can see what appears to be a nice cup and handle formation. Is this correction signaling the formation of the handle? If so prepare for a large bullish move. - Good luck
Hi @tdupuy , the triangle has indeed not kept its form but I saw you already concurred with my idea previously :)
I believe anything around the 3500 satoshi zone is great for buying, it also has good fibonacci support in that area. If by any occurrence it would still trend lower, HOLD is the imperative, this thing will blow up back to its previous highs. Now time for some consolidation and a great buying opportunity :-)
tdupuy
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@A_Cryptastic_Mind, LIke your analysis. Think the E wave can, and generally does, break the contracting support before the bullish move. Regardless, I think we both have shown the end is near for this latest correction and the upward move should be imminent. Happy Trading!
brettku
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I hope you're right, this coin has been making me sad this week.
tdupuy
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@brettku, Don't let it bum you out too much. Crypto market is so volatile and can really test the patience of many. Also, don't forget that the last Wave (e) in a correction can and usually will dip below the consolidating support. Good luck.
I believe anything around the 3500 satoshi zone is great for buying, it also has good fibonacci support in that area. If by any occurrence it would still trend lower, HOLD is the imperative, this thing will blow up back to its previous highs. Now time for some consolidation and a great buying opportunity :-)