I expect a breakout to the downside Looking for short position entry around 2900-3000
When XTZ broke down below the $2.2269 support level, it confirmed a bearish channel. I don't anticipate any ABC corrections, or reversal patterns, XTZ will most likely follow this channel all the way to the next critical supports: TP 1: $1.2662 TP 2: $0.9495 To confirm these targets i used fib retracements, and Money Flow oscillator to confirm bearish channel.
Disclaimer: This is not financial advice. This purpose of this chart is to document my trades while I am enrolled in a training program. Republish: I scrapped my Aug 4th chart and adjusted my fibs for higher targets. There was a significant increase in volume since the chart i published a couple of weeks ago. I pulled a trend extension fib to find targets,...
XTZ USD is starting to looking bullish. Stop Loss: Set XTZ/BTC stop loss around 0.0002600, just in case BTC decides to show it's dominance again and slam the alts. I would keep an eye on the CRYPTOCAP:BTC.D chart when trading alts Targets: If the volume picks up, we could see $3.9 or $4.6 as potential targets.
XTZ USD is starting to looking bullish. Stop Loss: Set XTZ/BTC stop loss around 0.0002600, just in case BTC decides to show it's dominance again and slam the alts. I would keep an eye on the CRYPTOCAP:BTC.D chart when trading alts Targets: If the volume picks up, we could see $3.9 or $4.6 as potential targets.
This is for training purposes only, I'm an amateur trader so do NOT use my chart as trading advice. Working on an ONT/BTC trade, fib targets in green. I noticed a small bullish divergence on the yellow trendline, I think we may see this uptrend to continue and maybe even hit my green target