Lumen continues trending upwards while producing higher highs and higher lows. On the last wave up it produced an all-time high, hitting $0.97 and breaking above the 427.2% Fibonacci resistance level applied to the last wave where 200 Moving Average was rejected.
Following corrective wave down resulted in the 60% decline and price went as low as $0.4, where 200 Moving Average was rejected once again. After, XLM/USD went up breaking the downtrend trendline suggesting that the uptrend is now likely to resume. The first strong resistance is seen at the $1.18 where two Fibonacci retracement levels are inline. Only a break and close below the 200 Moving Average could invalidate bullish outlook.
Following corrective wave down resulted in the 60% decline and price went as low as $0.4, where 200 Moving Average was rejected once again. After, XLM/USD went up breaking the downtrend trendline suggesting that the uptrend is now likely to resume. The first strong resistance is seen at the $1.18 where two Fibonacci retracement levels are inline. Only a break and close below the 200 Moving Average could invalidate bullish outlook.
交易進行:
Still bullish
評論:
Price produced spikes that went below 200MA, but no definitive break below
評論:
Expecting Lumen to go up from this point
交易進行
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@HiTech may i ask (i follow your premium telegram aswell and really enjoy it)
Why do you prefer EMA 200 instead of SMA 200 ? Do you think its more accurate the bounces?
Why do you prefer EMA 200 instead of SMA 200 ? Do you think its more accurate the bounces?
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@MarcelMartins, thank you for good feedback ... cryptos grow exponentially, so why not to use the exponential moving average? :)
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@HiTech,
An exponentia (ly weighted) moving average merely puts more weight on recent prices over older ones. Please explain your reasoning.
An exponentia (ly weighted) moving average merely puts more weight on recent prices over older ones. Please explain your reasoning.
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@knowhatamine, there is no reasoning, you can use any MA, they are very close to each other, especially on 200 period
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@HiTech,
Of course! :)
The more indicators, the better your prediction. Look at crossovers of weighted and simple moving averages is also well worth it. ;)
Of course! :)
The more indicators, the better your prediction. Look at crossovers of weighted and simple moving averages is also well worth it. ;)
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@HiTech,
You don't. I don't ever use them. I was just saying that because you mentioned the exponential growth of our beloved crypto prices. Wasn't really serious, just like your EMA comment I suppose. :D
You don't. I don't ever use them. I was just saying that because you mentioned the exponential growth of our beloved crypto prices. Wasn't really serious, just like your EMA comment I suppose. :D
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