XTZ.usd keeps on keepin on. Where will it stop? soon?

Tezos woke up and is now leading the Alts recovery.
But it is now approaching common wave end points.
Even a pullback will be likely to find support quickly.

$ 1.650-1.661 is immediate resistance, already reacting.
$ 1.676-1.690 should be strong resistance shy of 1.7 round.
$ 1.600-1.613 was my original target, but pushed through.

We may be in a "blow off top" state here.
As we know, "fast up" can cause "fast down".
I am currently trailing stops, on fib behind price.

I will post an update if it breaks above, or if it starts a retrace.



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Comment:

Just after this posting:

At least a small pullback underway.
Under the microscope (1 min)

We now have a new resistance zone (in theory).

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Comment:

Pullback Continues

Following up on the 1min fib above, it looks to still be in control

Last look it had pinged the 2.236, now it has pinged the 3.236


Zoom OUT to 5min. Based on the Blue fib above, and its interaction with existing fibs

we have three zones of interest.
It is actually possible that the blue 3.236 ended the wave, which would make it Ultra-Bullish.
More that likely it will reach for the 4.236 at $1.5202.
If that breaks then we can look for the next two.

Zoom OUT to 1hr, the original wave 4 target is still quite plausible.

It might bounce a little above at the newly found green zones.
If it does come down to the 1.49xx zone, the new fib has added one more layer of strength to that zone.

In summary:
Original plot for wave 4 is still most likely scenario.
This still looks very Bullish, but lets see where it bounces.

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Comment:

Ping

1st possible bounce point

might be too early but it being noticed says next one might do more, and 3rd might turn it.

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Comment:

Zoom IN on above Ping

Comment:

Wow, that bounce much better than I expected

I still think one more dip, but lets see.

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Comment:

Ping

Just Pinged the originally plotted zone for wave 4 end

Let see if we get a bounce and resumption of uptrend.

Zoomed IN we see it was an exact Ping of upper boundary

This is the kind of ping needed to start a reversal.
Not all pings end in reversal, but most reversal start with such a Ping.

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Comment:

So wave 4 went a little deeper that originally plotted, but wave 5 now well under way

That blue 4.236 at 1.7293 might offer some resistance OR it could END the wave, 4.236 are common endpoints ...

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Comment:

Target Hit EXACTLY.

Nice, wave 5 hit exactly where expected

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