swilton

XTZBTC Battle Plan

Long
BINANCE:XTZBTC   Tezos / Bitcoin
I have posted a lot of XTZUSD analyses recently. Some have worked out, others not. Based on what I've observed in the data over the last year or so, it is clear that XTZ pays great respect to the BTC pair, and only half-measured respect to any other pair. In this chart, cyan lines are 'anchors' and gold lines are 'beacons' identified by an algorithm which predicts future price inflection points based on previous price movements. All white lines are just support and resistance areas that I've identified manually by eye. When XTZBTC hit the last set of beacons in October 2021, XTZUSD was leading the market and fundamentals seemed better than ever. I made a huge mistake and held onto the bulk of my position instead of selling into BTC at that point. I was afraid of missing out on bigger price movements, and instead got rekt. Classic market punishment. If I had sold, I could have nearly tripled my position. Anyway, for better or worse, here we are back in the gutter. The market is afraid, XTZBTC returned back to strong anchors near all time low, and now is the time to add or hodl. If XTZBTC gets anywhere close to the next set of beacons to 0.00024, I will not make the same mistake twice. There's a lot of interesting historical price action above the next set of beacons. By interesting I mean obviously extreme resistance, which just reinforces my idea to sell and walk away to avoid the inevitable battle to reclaim the highs from many years ago.
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