XTZ was one of the last mover from the current bull market. In the next phase for altcoins I see xtz moving (and possibly very easily) to about 5.90 (~6$) and then to 7$. I have marked 9$ as a potential target. I think 9 is a bit of a stretch, as it puts xtz WAAYY in to overbought territory.. but this is crypto.. there are no rules. People are greedy and taking huge risk.
it is our chance to take advantage of this... carefully***
When you say $9 is overbought territory, you mean that people have set too many sell orders at $9? If so, how can I check this?
The_Yeager
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@CryptMeAlone, this is a good question. Its very subjective. I consider 9$ overbought because of the price relative to the history. XTZ traded around avg of 2.80 for almost 2 yrs. To move to 9$ within a few months is a very big move. This CAN certainly happen, but it would be overbought in my opinion. MEANING: I would expect price to not stay at 9$ for long. So if we see 9$, i'm out lol!
CryptMeAlone
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@MattYeager, I am also out at $10, question is should I take profits at $6, $7 and $9 as you state? Or one massive profit at $9?
The_Yeager
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@CryptMeAlone, totally up to you. I was just looking back at some of my previous analysis. Based on this
I would take profit around 8$ and see what happens at 9$
(I would take heavy profit at 8%.. maybe even 75%)
Broken_Token
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@CryptMeAlone scaling out is a good idea. I personally like to scale out to cover my initial cost + a little profit, and let a portion of it ride