SUMMARY
Elliott Waves states that news or events will arrive to justify the forecast. There is plenty of talk on Bitcoin manipulation by certain Cartels (banks/governments/nefarious entities). These are said to run a finely coordinated backroom planning to suppress Bitcoin. As a Technical Analyst, all I can say is that waves can be stretched but never controlled.
Stellar Lumen (XLM) seems to be almost there to the point of a breakout. Price is proximal to the apex. MACD is very proximal to the apex. Both have the same pattern. Does this look like a crash scenario?
Filled with the requisite subwaves; the price path could still progress laterally...but if Bitcoin (BTC) provides the lead to a breakout; the MACD for XLM could potentially go crazy bullish.
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Elliott Wave Counting Tutorial #1
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