Long

Potential golden corner pocket XTZ/BTC

Updated

Made a perfect retrace to the golden zone (between the 618 and 65). As long as that pivot holds there's an 80% chance it reaches the median line of the pitchfork. The initial algo target for this move is the -.236. The 4 hour currently resides in a bull flag so we should see some movement soon. This a mid-long term play so size your trade accordingly.

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After a nice first push up we'll be looking to catch the 3rd wave after we put in the second here. Ideally we want to hold the 1600-1700 area. Any break below the previous low will invalidate this trade.

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And we've come right to that 1600 area. Holding for now. Breaking the low of 1636 and closing below on the daily would make me look for this to develop more before buying back in. If this is has put in the 2 wave, it's gonna need to get some legs soon with momentum for this 3 wave to really take off and realize our main target of the PF median line.

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A retest of the 1900 area is a great place to jump back into XTZ if you're not in already. Otherwise look for a bullish pattern - Flag, ascending triangle.

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Median line realized. Doesn't look done yet. I would not buy here though. Wait for a retrace or a bullish pattern to occur.

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XTZBTC is by far the leader of alts and continues to push despite BTC. I had to pull up the HitBtc chart because it has the most back data. A true #rd wave will land where that box is. Doesn't mean it can't go higher, that's just the most probable target. All RSI's are pretty hot so buying here isn't good risk/reward at all. If this pulls back or consolidates at all I'll update, but for now this is not a buy for me. I'd much rather wait for a discount.

Cyrnix

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