XLMBTC (Stellar Lumen) 4hr tf analysis
Price swing from ~0.00005613 on January 26,2018 to ~0.00002311 on March 18,2018 indicates the completion of Minor wave 1, Minor wave 2 and Minor wave 3. XLMBTC (Stellar Lumen) is currently in a Minor wave 4 position.
The 38.2% and 50% retracement (target area) of Minor wave 3 by Minor wave 4 is used in this analysis as the possible termination region for Minor wave 4. Target area is therefore between 0.00003238 and 0.00003525.
Point of invalidation (POI) for this analysis is a price close above ~0.00003872 (POI is placed just above the 61.8% retracement of Minor wave 3 by Minor wave 4).
The use of price “swing” by the author is simply to refer to a general trend for price action. Price swing is therefore not implied to be an actionary or reactionary Elliott wave.
The 38.2% and 50% retracement (target area) of Minor wave 3 by Minor wave 4 is used in this analysis as the possible termination region for Minor wave 4. Target area is therefore between 0.00003238 and 0.00003525.
Point of invalidation (POI) for this analysis is a price close above ~0.00003872 (POI is placed just above the 61.8% retracement of Minor wave 3 by Minor wave 4).
The use of price “swing” by the author is simply to refer to a general trend for price action. Price swing is therefore not implied to be an actionary or reactionary Elliott wave.
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