This combines a rational EW count, cycle theory according to Bob Loukas and classical CT. Fib relations are not shown.
Targets: 180k June - 2022, 50k - Dec 2022, 370k - Dec 2023, 1.3 mio - spring 2026, 200k - 2030.
A move to the upside of the channel until the end of the present short term cycle is likely after rejection from the middle line of the channel. Afterwards a rejection from the upper channel boundary and then a move beyond it can be expected followed by retest. Then resuming the uptrend
Over the next months XTZUSD will reach new ATH. The weekly bars have long wicks (green arrow), reaching to the 21-weekly EMA, which is bullish. The downwards trendline (red) will soon be broken, and later, the blue channel will be left to the upsite.
Anyway, tezos clearly showed a corrective pattern during the last years corrresponding to a wave b of an abc...
The last extended leg of the bull market is under way since July (5 of 5 of 5). Fib relations during this last move could be 2,6 times the former impuls: wave 3 = 2,6 x wave 1; wave 5 = 2,6 x wave 3. This would bring btc to around 300k at the end, which can be expected in spring due to lengthening cycles. Afterwards there should be a big corrective move to around...
Trendlines with btc are more reliable on the non-log chart. This sideways correction (running flat, bullish) seems to be over after testing the uptrend line a second time. Now an acceleration is to be expected during wave 5 with a max. target of 300k.