XTZUSD Buying the fear throughout October

11 thg 10, 2021

The chart is a mess, but I look at Tezos a lot and don't have time to clean it up and make it pretty, so let's just get to it. XTZUSD is having some serious growing pains, but I am just going to buy the fear all month. I believe the rest of October will be painful as the price keeps getting squeezed lower and lower, bit by bit, probably down to high 5s by the end of the month. During this time, money will flow elsewhere, and people will forget about XTZ for a while. As soon as the money flows back into XTZ later this month or in early November, I expect a big impulse move up to $20. Most traders plan to exit in the low 10s, but there's a decent chance they will get caught off guard by the size of the movement. This is a pretty speculative setup. I am not saying this will happen with 100% confidence, but it's definitely a possibility. As always, let's see what happens.

11 thg 10, 2021

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I wasn't really clear in my initial post. We're definitely inside a buy zone right here and right now. I'm not waiting to buy the fear later, I'm buying the fear now. There is minor resistance at $7.5, and it's possible we could make a run up to $10 before the end of the month starting from this point, but I'm expecting a final shakeout down to the high 5.9s or low 6.0s before the final real impulse up move. I'm not selling any of this chop. Just holding until we inevitably break above the channel. I'm not even considering selling until I see a BIG move.

17 thg 10, 2021

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Interesting drop to the 6.3s today. It simultaneously retested downtrend support and pinged off of the top of the anchor zone. Statistically, price is always 'expected' to drop into the anchor zone ($6), which is why I said in my original post that I predicted a fall for the rest of October to the confluence of downtrend support and anchor support.

However, there is always a small chance that the price can inflect before actually dipping into the anchor zone, which is always a precondition for the most bullish impulse moves. In summary, everything is still moving as expected, but I'm secretly hoping for early liftoff after todays drop.

27 thg 10, 2021

Giao dịch đang hoạt động

Now! $5.1 is still a vulnerable area, but the drop a few hours ago is an ideal entry point from an overall likelihood and risk-to-reward standpoint.

27 thg 10, 2021

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Also, forget about the pump arrow to $20. The likelihood of it following that trajectory right now is very, very low. Let's just prove that $6 support can hold at or above this area until the end of October so that we can see some positive price action throughout November.

28 thg 10, 2021

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New analysis and updated price target can be found here: