XTZ Bullish ChannelHello Traders, Bag holder's and Mewn Boys,
After a long downtrend since October it seems as if we are finally coming to a draw at the downside. As you can see Tezos Has been in a bullish Channel since back in October of 2019 topping at its most recent high above $8 in October of 2021. Starting the year off in 2022 the crypto space has not gotten off on the right foot yet, I see a beautiful ending to 2022 regardless of what happens in between. Don't let the rocky road take your eyes off the prize that crypto and Bitcoin were made for just such an occasion that we are currently in and surely Crypto did not just show up and pass out early at its own party.
As XTZ reaches the bottom of this channel we can see that the relative strength index has entered an area in which 4 times in the past has called the bottom right before a large rally to the top of this channel.
I hope you enjoyed todays Technical Analysis and would really like to discuss your opinions in the comments below. Let me know what you think about the political news in America with Biden pushing regulation on the crypto space and what you believe the impact of this will be.
Clear your head of the noise and read the story the chart is telling you.
Savvy
