BITTREX:XTZUSDT is displaying the Cup & Handle basing formation. There was recently a ~400% volume breakout from the 50day MA. If XTZ breaks the high point of the handle, that will initiate the next bull run.
XTZ has been in a 25 wk basing pattern ~70% cup depth & ~25% handle depth.
Congress just passed a new reporting/taxing law. There will likely be a mass selloff. I am looking at this as more of a buying opportunity than anything else.
@legasystems, I don't know that there is a way to say when for sure. There are so many factors that can impact that answer: 1) government policy about utilization, 2) taxes, or 3) pop-culture icons generating unexpected excitement or fear.
What I can say is that based on trend analysis these types of trends tend to have their breakout within 1 -5 weeks of those massive volume spikes coming out of standard basing patterns.
I wouldn't try to predict a time though, instead I would look for conditions based confirmations, ie: breaking that resistance level.