STELLAR disappointed us!
I was watching STELLAR chart for a while, too much talks and speculations around it. I was skeptic, so much, that I didn't enter a trade myself.
Stellar has come into limelight and fallen out of favour several times, however it backed to test the highs again and to break them in to new uptrend.
today I looked at a solved problem! but I found something interesting which I wanna share with you, this will definitely help us:
Gold
I do believe, GOLD chart and trend over time, is a place to learn all the trading patterns, market responses, trend studies and everything you need to know about speculations.
now check this:
GOLD started a strong rally from $1250 to $1350 (rough numbers), bounced back, tried and tested the $1350~ and so on, it did this 4 times, and finally failed to break it and back all the way to $1250~
and now, STELLAR:
Jan 2018, which is not in the chart given, XLMBTC was about 0.000015, started a very strong rally to highs which reduced over time, so I go a bit forward to the given chart, testing 0.000042 (roughly) resistance level for 5 times till now.
conclusion
people have a base asset (USD in GOLD, BTC in XLM case) which if the trend fails to break it 3-4 times in a row, will back to it, replacing speculative greed with cautious!
well, this is still a thought, not a financial advise ;)
i started buying gold and made my second purchase. last time the market crashed it dipped before rising, this time i'm not so sure there will be another buying dip chance.
I look in to GOLD history as a looking glass for future of crypto!
the gold itself is not of my interest to be honest :)
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