Stellar Lumens - XLM 5th Wave prediction

in #bitcoin6 years ago (edited)

I've been watching the action on Stellar Lumens XLM for some time. I will leave the fundamental analysis to you, or to another post if there is a request or enough upvotes to do so.

After finishing it's correction pattern thru the month dropping it on the final wave to the .618 as an all time favorite corrective position, it reentered a bullish pattern even thru the bearish Bitcoin market.

I believe we have hit bottom of wave 4 at this time based on where support lines lay and we are now seeing the start of wave 5.

My target for this will be around 6163 Sats as wave 5 tends to mirror wave 1 in impulse in Elliot patterns.

This is not financial advise, just what I'm seeing as I read this chart.

Please feel free to add your friendly view of my TA as it's best that we find ways to help each other see things other's don't. This is how we learn.

Tools used to determine this broad scoped TA were Fibonacci retracement and Elliot Wave theory:
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:fibonacci_retracemen
http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:elliott_wave_theory

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