Generally: This is a limited scope fib retracement, supporting the trend-based extension. I will regularly plot these for 6 or more pairs over the next 12 months in order to complete an backward looking analysis on a series on tools (TA and others), used by many in trading/investing in crypto. Adding the volume provide on the right-hand side. important to note, the volume profile is limited to the time frame visible.
Dotted lines indicate confluence of two or more points identified with multiple Fib retracements.
In my view, XLM will move to 0.000051. If 0.000051 is exceeded and the volume becomes top-heavy on chart on the right-hand side, I expect a more substantial move upward and according to the Fib extension. Of course, this lil' BTC push (BTCUSD) can deflate. If, as and when this happens, I'll be looking for a negative correlation on XLMBTC. If seen, I'll hold on. If not, will sell majority of position.
Very interesting...will you be posting your weekly findings somewhere?
allawi
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to clarify, I mean like a google sheet in a consolidated format for all pairs you're doing this for - to be able to facilitate analysis...
nycgrowler
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@allawi, I maintain the data in a Google Sheet. I didn't plan to post it weekly, but will clean it up and consider it. Stay tuned. I'll update this weekend.