The analysis includes multiple methods of technical analysis to produce a map.
The labels for the chart and what the chart says are on the chart itself, more information about how to create a chart like this will come with updates to this idea.
A quick rundown of what I do use are:
Trend Line to extend from two lowest structure closes.
Horizontal Ray tool to mark off structure highs and lows on the Monthly Timeframe.
Box tool to mark off Monthly and Weekly gaps in price action.
Fibonacci tool using Powers of Two or Binary numbers to plot growth lines originating from two of the lowest close values. This cancels the logarithm out when using a logarithmic chart.
What do the boxes mean?
Red Box - Monthly TF Gap Down
White Box - Monthly TF Gap Up
Orange Box - Weekly TF Gap Down
Blue Box - Weekly TF Gap Up
I predict the price to move away from $8 and break into triple digits over the long term. The price targets are as follows:
$7.30
$14.60
$28.80
$57
$114
$227
$456
$900
With a price at $900 per coin, the Tezos platform would be valued at $798,181,180,200 for the total supply, not that in circulation as of 26th August 2021. $227 is a conservative estimate valuing the platform at $201 billion.
This is not financial advice.
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Note
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Predicted Price of $8 has been broken.
Godspeed to all XTZ holders.
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BTD - Buy The Dip may still be in effect, check September 7th post for the dip levels.
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It looks like bullish volume with bullish price action on the table for 2022.
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I hope you all bought the dip.
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Price action looking very good with volume still incredibly high and growing. Overall it looks like a strong uptrend is about to come by.
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TRX hit the MSL (Monthly Structure Low) from October 2019 recently.
Interesting level we're at as the linear chart shows a reset, back where we came from, whereas the log chart shows there may still be more space to move downward.
In essence, prices have never been cheaper and R/R has never been higher.
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