SUMMARY
Stellar Lumens might be taking the Triangle Road of Correction rather than the deeper a,b,c zig zag or flat type. If you don't know what these types mean, please consider reviewin the free tutorial videos that can help you take the early stages of learning Technical Analysis. The tutorials are linked at the bottom of this blog.
The below chart is displaying an a,b,c,d,e triangle and it could represent a bit of a shortcut towards the $0.24 target. It appears as if waves a,b,c are complete and wave d is nearly so. That leaves wave e and if so, an impulse should take prices to the target price.
The XLM/BTC pair is sporting a Cup & Handle pattern. The handle portion seems perhaps nearing completion. That means and impulse move of five waves is next. Let's see what happens. Target is 0.0000470 BTC.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**