Make or Break territory…

24 Sep 2021

Again, XYO is within a descending triangle, and the bobbing movement we have been seeing recently upon the 0.786 has been quite different from the way it has behaved on each fib above when it subsequently toppled down lower. XYO is nearing making its mind up whether it wants to go down from this level or begin making its way back up. The different behavior I have seen is giving me more of a bullish bias for this bounce, but anything is possible. If we do go any lower I believe $0.023 to $0.025 will be the maximal low before it begins going back up. So far, XYO has formed—at least on the BTC chart because it provides enough price data—two descending triangles prior to this that broke to the upside, and given the current bullish climate of crypto as a whole I believe—despite the crazy drops we’ve had recently—it will break to the upside once again.