✳️ Tezos vs Bitcoin Hit Bottom | 45% To 135% Bounce Possible

9 ene 2023

If you've been following, you know that altcoins printed a major low/support in May/June/July 2022... This low is being mostly followed by a higher low in Nov./Dec. 2022... This is not the case for Tezos (XTZBTC).

Tezos hit a low in May 2022, before many other altcoins/pairs, and after a long consolidation phase it broke down and went lower, hitting a lower low which make this chart setup much better for those who trade.

A higher low is good, it is a great bullish signal.

A lower low in this type of scenario, at this point in the cryptocurrency market cycle is even better, because all the weak hands have been removed, the sellers are fully exhausted...

So, while the pair that hit higher lows will move ahead, the pairs that hit lower lows like Tezos can actually grow for longer because of less weak hands.

The lower low resulted in a "V" pattern which is a strong recovery signal.

The RSI went oversold but is now leaning toward strong.

Remember, a strong RSI at low levels is a heavy signal, it means that prices growing next are more likely than not.

The targets are marked green, this is true across all charts to make it easier for you.

The support levels are marked blue, always, across all charts as well.

We have 45% easy target to start, followed by a peak of 135%... There can be more but we go step by step.

Namaste.