Here's a fractal ive been focusing on and watching for a while. I think Tezos has insane potential, it's just not a hype coin so it hasnt had any unreasonable pumps. But looking at the fractal, i see almost IDENTICAL behavior EXCEPT for the areas circled in orange. This was the "black swan crash" that rocked all of crypto, and such, i dont count it as part of a fractal, this was not normal market movement, but rather was triggered by the current economic situation at the time, and so it may be fair to guess that that is the one part of the fractal that will NOT follow perfectly, just as it didnt follow it back in late march. Because of this, I see two option, one is that XTZ will continue to follow the general trend of the LINK fractal, but wont see a massive dump in the coming weeks.
Essential, option 1. is we do the opposite of my first yellow circle, with xtz remaining fairly steady despite the link fractal dropping, until the XTZ and LINK price action match once again, and then we have lift off (white curved arrow)
Option 2. If we do line up the black swan crashes for both LINK and XTZ, we dont see AS perfect of a fit, but it's certainly interesting, and still bullish.
Obviously a third option is it doesn't follow the fractal any further and starts crashing or just holding steady. But I'm betting against that. The patterns are just too similar for my taste. }
would love to hear thoughts on this one. will update as XTZ progresses
Essential, option 1. is we do the opposite of my first yellow circle, with xtz remaining fairly steady despite the link fractal dropping, until the XTZ and LINK price action match once again, and then we have lift off (white curved arrow)
Option 2. If we do line up the black swan crashes for both LINK and XTZ, we dont see AS perfect of a fit, but it's certainly interesting, and still bullish.
Obviously a third option is it doesn't follow the fractal any further and starts crashing or just holding steady. But I'm betting against that. The patterns are just too similar for my taste. }
would love to hear thoughts on this one. will update as XTZ progresses
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Just a few more days until we know for certain which, if either, of these 2 fractals will be played out.
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Momentum calls for more down, but we are near both a fib and trend line support.
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Should see a retest of the area in yellow, if we fail to break above it, I will consider re-evaluating my mid-term bull status.
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realized pic didnt post with above update
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Short Term Bear rejected
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A break past ~$3.42 should confirm this as a reversal. However, there's still a lot of potential for more downwards price action
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I've been playing around with my momentum indicator settings more, and if you see what I'm seeing, we could be in for some very green days.
Any time the line has turned green we've seen increasingly massive run ups.