Might get in trouble for sharing this little dose of hopium because the recent downtrend definitely does not support it... but screw it!!
Some very bullish news pumped XTZ's price last week when Ubisoft announced it would sell gaming NFTs on the Tezos network through marketplaces Objkt and Rarible, which just launched integration with tezos.
bitcoinist.com/ubiso...first-nfts-on-tezos/
Obviously, the whole altcoin market, more or less, is at the mercy of bitcoin, and the whole market is fearful right now. We are still technically in a macro uptrend, which means this might be an ideal time to buy... unless this is the start of another "crypto winter," or bear market. No one knows for sure, but either way, we will surely get a relief rally out of BTC & alts, even if it's only temporary.
XTZ has found local support. Pattern wise, this could potentially be an inverse Head & Shoulders; XTZ could also be at the bottom of an ascending channel, or could possibly form a diamond pattern, which could also build support for reversal ideas.
One should never try to force trades, but hey, it sure feels good to call the bottom ;)
Just remember to set stop losses.
happy trades,
CD
Some very bullish news pumped XTZ's price last week when Ubisoft announced it would sell gaming NFTs on the Tezos network through marketplaces Objkt and Rarible, which just launched integration with tezos.
bitcoinist.com/ubiso...first-nfts-on-tezos/
Obviously, the whole altcoin market, more or less, is at the mercy of bitcoin, and the whole market is fearful right now. We are still technically in a macro uptrend, which means this might be an ideal time to buy... unless this is the start of another "crypto winter," or bear market. No one knows for sure, but either way, we will surely get a relief rally out of BTC & alts, even if it's only temporary.
XTZ has found local support. Pattern wise, this could potentially be an inverse Head & Shoulders; XTZ could also be at the bottom of an ascending channel, or could possibly form a diamond pattern, which could also build support for reversal ideas.
One should never try to force trades, but hey, it sure feels good to call the bottom ;)
Just remember to set stop losses.
happy trades,
CD
Comment:
After a nice 30% rally, we are back to where I called "bottom"
