If you followed my last month's call
then you are welcome! It's been a month and unfortunately XTZ isn't strong enough and got rejected by the center line of the pitch fork. These past days' PA has me scratching my head as the pattern isn't very clear, that is, until I clicked the 3D chart.
Basically, I am looking forward to XTZ repeating May-August fractal and if the idea plays out we shoot up to challenge $3.15 resistance.
This idea isn't really technical but more speculative, but I do have some arguments for bullish bias:
1. The PA pattern highlighted does have a name called Adam and Eve Reversal.
2. I consider $2.28 level a long term support/resistance on the 3D chart and it seems to me like XTZ has defended this level successfully with minimal effort to push the price though, could be testing water on both high and low levels
For this to have a great chance of playing out, we must see XTZ price push up to 2.59 level minimum by Friday close. This way we complete the autocorrelation and form a bottom pattern like in the beginning of August.
Basically, I am looking forward to XTZ repeating May-August fractal and if the idea plays out we shoot up to challenge $3.15 resistance.
This idea isn't really technical but more speculative, but I do have some arguments for bullish bias:
1. The PA pattern highlighted does have a name called Adam and Eve Reversal.
2. I consider $2.28 level a long term support/resistance on the 3D chart and it seems to me like XTZ has defended this level successfully with minimal effort to push the price though, could be testing water on both high and low levels
For this to have a great chance of playing out, we must see XTZ price push up to 2.59 level minimum by Friday close. This way we complete the autocorrelation and form a bottom pattern like in the beginning of August.
