Tezos (XTZ) cross may be ready for a bullish continuation
Hi folks and welcome back to my analysis.
I just noticed that both the bitcoin and dollar crosses for XTZ are positioned for an up move, and since it is in line with our previous analysis on bullish continuation and it'd be a good idea to share it with you all. (link here)
Seems like on the right, our tezos created it's phase C low, and quickly and derisively made it back into the trading range. On the left hand XTZ may be making a "feather" structure. Where in Wyckoff methodology, it represent a very low volume, low volatility period that is followed by an explosive move.
Therefore, Tezos is officially on my trading list. I'm opening up probing positions with stops below the ATR, and I will add to my positions with significant bars to the upside confirming the up move.
Alternatively, folks remember there is a short-term bearish scenario that we are following. If this view fails, we are going to visit the lows at selling climaxes before we go to the top again! You can find more details in the previous post.
p.s sorry for the misspelling on the chart. Sign* of weakness
If you folks enjoyed my analysis, and want to stay up to date with updates, don't forget to follow me.
If you have any suggestions and criticisms please let me know in the comments! we are here to empower each other to survive this market!
Best,
Shayan
I just noticed that both the bitcoin and dollar crosses for XTZ are positioned for an up move, and since it is in line with our previous analysis on bullish continuation and it'd be a good idea to share it with you all. (link here)
Seems like on the right, our tezos created it's phase C low, and quickly and derisively made it back into the trading range. On the left hand XTZ may be making a "feather" structure. Where in Wyckoff methodology, it represent a very low volume, low volatility period that is followed by an explosive move.
Therefore, Tezos is officially on my trading list. I'm opening up probing positions with stops below the ATR, and I will add to my positions with significant bars to the upside confirming the up move.
Alternatively, folks remember there is a short-term bearish scenario that we are following. If this view fails, we are going to visit the lows at selling climaxes before we go to the top again! You can find more details in the previous post.
p.s sorry for the misspelling on the chart. Sign* of weakness
If you folks enjoyed my analysis, and want to stay up to date with updates, don't forget to follow me.
If you have any suggestions and criticisms please let me know in the comments! we are here to empower each other to survive this market!
Best,
Shayan
