XTZ CUP and HANDLE on daily at PCZ of bullish HARMONIC
XTZ has been my favourite coin to trade in the past few months because it respects the technicals so well. Looking at the situation now we can see that it has been following a downward channel that might have gotten too deep to call it a standard cup and handle formation, nonetheless when being in this channel it has created 4 counts of bullish divergence on the macd and RSI on a DAILY timeframe, along with a massive count of bullish div on the weekly. With this it has hit the Paz of a bullish harmonic at the 78.6% retractment. I have accumulated a lot of this coin but haven't opened a long yet. A type two return at the Pcz would be ideal but it looks too strong to return there.
Entry: Between 4.38-4.19 depending on lower timeframe pa and btc pa (needs to stay above 47.7 ideally).
- If btc breaks down will look for entry around pcz of harmonic.
Targets: 5.64, first tp but add to position if it finds support above.
Long term hold target: 13-16 dollars
Entry: Between 4.38-4.19 depending on lower timeframe pa and btc pa (needs to stay above 47.7 ideally).
- If btc breaks down will look for entry around pcz of harmonic.
Targets: 5.64, first tp but add to position if it finds support above.
Long term hold target: 13-16 dollars