As with most of my new ideas, I'm now trying to use not the BTC or USD pairing, and not even the ETH pairing (though admittedly its fairly close to the ETH pairing) but rather the total alt coin marketcap. This is a new charting strategy I'm trying because for the past 5 years of me staring at these charts, it's become obvious that soooo many big moves are really just motivated by BTC and ETH dumping or pumping. And so to try and filter that out, I think charting against the average paints a better picture of how these alt coins are actually moving ON THEIR OWN. Now I can't technically use an average, and unfortunately, I can't filter our Stable coins easily, but I think that using TOTAL2 is a pretty decent approximation of what I'm after. And considering I'm only looking long term with this method, I think it should be fine.
What a shitshow XTZ looks to be these days. A.K.A. a great buying opportunity. JUST going off the fundamentals alone, I'm bullish on XTZ, so seeing it this low relative to the greater alt market just seems to be to be a great entry as far as a risk to reward ratio. Volume has been growing across this whole downtrend, which when looked at on the USD chart could easily be seen as accumulation.
What a shitshow XTZ looks to be these days. A.K.A. a great buying opportunity. JUST going off the fundamentals alone, I'm bullish on XTZ, so seeing it this low relative to the greater alt market just seems to be to be a great entry as far as a risk to reward ratio. Volume has been growing across this whole downtrend, which when looked at on the USD chart could easily be seen as accumulation.