Nemaconz

I chart out my trades and thoughts on the price action of XLM. I never give financial advice, I only say what I am doing. Follow my trades at your own risk.

[Nemaconz @nemaconz]

@BethesdaSupport @Fallout Hurry up!

[Nemaconz @nemaconz]

@BethesdaSupport @Fallout Hurry up!

[Binx1221 @MadelineM1221]

@DrEliDavid https://t.co/YRPVOazzdd

[Nemaconz @nemaconz]

@JTheretohelp1 @tradingview So you mean to tell me the entire bull run of 2017 doesn't play into the greater Elliott Wave fractal? It was only wave 1 in a minor Elliott Wave count? I call bollocks. It makes more sense to call this last run up wave 5 than to say wave 5 is still waiting to happen.

[Nemaconz @nemaconz]

@SziIlar @POTUS Better go register with the GOP then, Democrats are incapable of fixing anything but elections.

[Nemaconz @nemaconz]

I bought back in this morning after the release of the 2nd QE. The market responded far more positively than I expected but basically for the next two months there will be no more bad news and it is likely the next fed rate hike will beat expectations. So let the rally begin.

[Nemaconz @nemaconz]

Fed raised rates by 75 Points. Earnings report comes out tomorrow and it probably won't be too good but again experts think most of it is already priced in. I'm still sitting on the sidelines. The rally right now could be a head fake before tomorrow. I'm playing it safe for now.

[Nemaconz @nemaconz]

Despite the pump, I'm still sitting this out. Some people think the fed rate hike is already priced in, I'm not so convinced. I will continue waiting until the hike next week and will decide my course of action then, would rather miss out on an early re-entry than buy the top.

[Nemaconz @nemaconz]

Some people are getting anxious because price action is up. I see no reason for a long term reversal yet but I can definitely see the need for a surge before the ETH merger and the next Fed Rate hike and it's to position for a short. I will remain on the sidelines for now.

[Nemaconz @nemaconz]

Where did BTC close for the day? At resistance. ETH has been making some gains but that is almost certainly linked to the ETH merger news which I can say with 99% certainty will likely result in a "buy the rumor sell the news" style dump. Trust what the chart is telling you.

[Nemaconz @nemaconz]

Big bearish divergence on the BTC daily. Volume has been dropping with upward price movement as well. I wouldn't trust this rally.

[Nemaconz @nemaconz]

Before people get too excited, we are still well within the range of the ascending wedge and if you look at the week or two before the last fed rate hike we had a surge just like the one we are having now. The next rate hike occurs July 26 - 27.

[Nemaconz @nemaconz]

Rising wedge/bear flag on BTC daily with falling volume. Makes sense with the next fed rate hike coming at the end of the month. More signs to the downside. Next support is $14k. Then $12.6k. Can't see a reason to logically break to the upside anytime soon.

[Nemaconz @nemaconz]

Bollingers bands are tightening on the daily, the symmetric triangle is close to completion, volume is drying up and a bearish divergence has now appeared on the daily. BTC is real close to making its next move. With another big fed rate hike this month, it's probably down.

[Nemaconz @nemaconz]

So we made a lower low. From macro perspective we need to take out $17.6k to make the next lower low. I'm gonna be honest with you, I sold out again when BTC was at $21.5k. Unfortunately I think we have another leg down coming and even then I am not sure that will be the bottom.

[Nemaconz @nemaconz]

BTC needs to hold above $19.8k or we will set a lower low. I am not seeing any bullish divergences but I am also not seeing bearish divergences on the daily or 4hr time frame. The weekly and monthly time frame has massive bullish divergences so the long term outlook is bullish.

[Nemaconz @nemaconz]

Let me put on my tinfoil hat for a second. MAYBE the reason alts are hanging on while BTC is crashing is because whales want to execute a reverse alt season. Short Bitcoin then once that is exhausted turn around and short alts into oblivion. Just a thought.#BTC @BCBacker

[Nemaconz @nemaconz]

Full disclosure I have entered back into the alts. 🤞🤘🫰

[Nemaconz @nemaconz]

I have never seen an instance where BTC was getting rekt and the alts held their levels like this. Taking price and dominance into account it would appear that confidence has been lost in BTC, but not alts. Could this be the canary in the coal mine for an unexpected alt season??

[Nemaconz @nemaconz]

Glad I'm in cash and have been for a while now.

https://t.co/V8Y3Pd9s6h