Reposting this since the last chart was removed for some kind of infraction.
Since we reached the level at which I said it's a good idea to accumulate, I thought I'd provide an update with a prediction of where the price can go next. Keep in mind that if you bought here, the best time to sell is end of 2025, but if you want an earlier mid-term target then I think I have a trigger and a set-up for you.
If the price retraces all of the FTX dump and closes above $1.4, then I can see it squeeze up to the area highlighted in red in the chart ($2.8 - $3.2). That means one can buy at 1.4 and 2x within a few months. As I'm sure you all now know, that's pretty much as good as it gets during a bear market. It may even be asking a lot. Keep in mind that if that level is lost, if the price closes below, then this prediction is invalidated. What I mean is that my prediction holds only if we get to and stay above $1.4.
This doesn't just go for XTZ. It's like this for all other altcoins, and includes BTC, too. If they close above the point at which the market began dumping on news from FTX, then they're likely to pump hard. I intend to post a few more charts showing what I mean.
I've been bearish the whole way down, but I think the bear is starting to finally hibernate, and the bulls are beginning to wake up. It'll be slow at first until mid-2024, and then, after the halving, we'll see the bulls rampage again.
Since we reached the level at which I said it's a good idea to accumulate, I thought I'd provide an update with a prediction of where the price can go next. Keep in mind that if you bought here, the best time to sell is end of 2025, but if you want an earlier mid-term target then I think I have a trigger and a set-up for you.
If the price retraces all of the FTX dump and closes above $1.4, then I can see it squeeze up to the area highlighted in red in the chart ($2.8 - $3.2). That means one can buy at 1.4 and 2x within a few months. As I'm sure you all now know, that's pretty much as good as it gets during a bear market. It may even be asking a lot. Keep in mind that if that level is lost, if the price closes below, then this prediction is invalidated. What I mean is that my prediction holds only if we get to and stay above $1.4.
This doesn't just go for XTZ. It's like this for all other altcoins, and includes BTC, too. If they close above the point at which the market began dumping on news from FTX, then they're likely to pump hard. I intend to post a few more charts showing what I mean.
I've been bearish the whole way down, but I think the bear is starting to finally hibernate, and the bulls are beginning to wake up. It'll be slow at first until mid-2024, and then, after the halving, we'll see the bulls rampage again.
