The Road to $66 for STXUSDT (Stacks)

has now beautifully broken out of the triangle after an impressive textbook correction at the 0.618 Fibonacci retracement.

This type of correction is a typical feature of wave 2 in an Elliot wave count, which indicates that is now ready to embark on its third impulsive wave, often referred to as the most explosive one.

Considering the increasing volume, an explosive surge in the number of transactions on the network, and the oscillators, we can expect a swift development in the price towards the following resistance levels:
— 0.57
— 1.06
— 2.85
— 5.96
— 8.16
— 13.17.

#stxusdt #stxusd #BNS #DeFi #BitcoinNFTs #Stacks

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Exciting update on my 'The Road to $66 for
Stacks" analysis: A pivotal moment is approaching as we near a Fibonacci circle. These circles are powerful tools for financial analysis, identifying support, resistance levels, and potential turning points. Mark your calendar for August 14th – expect insightful market developments over the next two weeks!

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On August 4th, I predicted significant developments for the 14th using a Fibonacci circle. My forecast was accurate, but the expected positive outcome didn't materialize. However, it seems that $0.57 is currently back in play. Bon appétit!

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$0.81 next resistance.

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has found support at the 0.236 Fibonacci level on the daily chart.

Upcoming targets:
- $0.81
- $1.01
- $1.26

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- $1.73 ✔️
- $1.26 ✔️
- $2.58 next.

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$1.73 --> $2.05 --> $2.58.

2024 is set to be a big year for , as we witness the growth of a economy. Apps and smart contracts will be running on Bitcoin, marking a shift in the narrative that's been happening gradually and is now happening quickly. With Stacks' Nakamoto release and sBTC in Q1 2024, a true Bitcoin Economy will take off, unlocking $500 billion in #BTC capital.
Welcome to a fresh, decentralized #Internet, built on the most secure network out there

Note

Cup and handle pattern identified on the 4-hour chart. Currently testing the 0.786 Fibonacci resistance level for the third time. It's on the verge of a potential breakout towards $2.05 and $2.54.

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$1.73 ✅
$1.26 ✅
$2.05 ✅
$2.54 ⌛️

Check, check, check! is on a joyride.
If breaks the resistance at $2.05, then buckle up for its journey to the next stop: $2.54!

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Update:

on its way to $2.57

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(Road to $66 Update): On Track for $8.15 by Mid-June.

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daily charts seems ready to push for its next target: $3.96

Trade active

targeting $8.15 in the coming months looks reasonable: 1.618 Fib extension, wave 5 of a higher-degree wave 3 completion, RSI > 50, MACD crossover—TA-wise bullish.
Plus, sBTC is around the corner, bringing the power of #Bitcoin to the Stacks network.
Exciting times ahead!

joerivdpol

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joerivdpol

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