XLM, BTC, and the Parabola

2 มี.ค. 2021

folks, I was a bit nervous a few times these past few days I won't lie. However, it truly does seem as though the parabola is back on which means be VERY careful when trying to scalp peaks, because you can and will lose your ass in the doing. The only advice I can give is to HODL from this point until XLMBTC hits the .1075e-4, .1150e-4, or .1200e-4+ ranges. Other than that trade within your own risk comfort.

One thing that I noticed today when XLM went from .42 to .436, seemingly out of nowhere, was that I was afraid it would continue to leg up from that location. Turns out, that only happens if BTC itself isn't in a high rise movement. Something to keep in mind to put your mind at ease if you see a double top with what seems like a parabolic movement. Even so, be very careful.

As always these are just my ideas and nothing here is financial advice! Happy trading!

9 มี.ค. 2021

บันทึก

I think everyone's mistake was thinking that all of this movement, correction thing would have been over and done with quickly, and not drawn out. As it turns out the low volume, and hype on either end of the spectrum is dragging this out longer that it otherwise might have. That being said, it does seem that in the long term, in terms of days or a week or two, we are definitely bearish.

I still stand by my assumption that we are going o retest the local bottom of ~.32. Unfortunately, the when, and how many bounces between then and now is the question. So far TA seems to be doing the opposite of what it should be doing on most of the timescales, so hopefully someone with a crystal ball can confirm!