It is likely that Tezos (XTZBTC) already hit bottom... Let's consider this weekly chart.
We have a major downtrend that started in the year 2020. In 2021 there is a relief rally and followed by the resumption of the bearish trend.
It is easy to see lower lows with decreasing volume until present day.
➖ Welcome to the year 2024.
As the year starts we soon see change. The action becomes shaky. We have a very strong red candle followed by a green candle that cements a new All-Time Low. Trading volume is above-average and the usual pattern changed completely.
This "change" is the most relevant signal.
If XTZBTC were to continue in a downtrend long-term, we would see the same behaviour, the same pattern and higher volume on the lower lows.
We can also draw a 3-3-5 correction from August 2020 through January 2024.
This is an early signal but XTZBTC is likely to go bullish in 2024.
At today's BTC prices the top of your prediction would be around 10USD. But what happens if BTC hits 100K or more? It will be interesting to say the least.
🤜🤛Peace.
AlanSantana
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@mikroland, I think it would still revive because it stopped dropping in October. So even with Bitcoin rising it is no longer producing new lows.
If Bitcoin hits 100K, this and other pairs would still move up.
Namaste.
mikroland
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@AlanSantana El Presidené, do we have a double bottom now on the chart?
sumairk
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strangely new coins have gained much then old ones this time, alot of old dogs still at bottom i wonder when they start rolling, even jasmy, spell went nuts today.
AlanSantana
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@sumairk, 2024 is definitely the year... We just can't know exactly when in 2024. Can be also in 2025 but this year at least an initial wave should be obvious.
This is one I'm watching closely.
At today's BTC prices the top of your prediction would be around 10USD. But what happens if BTC hits 100K or more? It will be interesting to say the least.
🤜🤛Peace.