Last_Phoenix

XTZ approaching 200 day EMA, that also alings with .786 fib.

Long
BINANCE:XTZBTC   Tezos / Bitcoin
BINANCE:XTZBTC
.786 fib aligns with 200 day EMA , just look how $XTZ reacted to 200 day EMA in recent history. This is not a bad spot to start laddering in position IMO.
Trade closed manually: Well, we definitely bounced from .786 fib and 200 EMA, even if we closed the trade today we would have secured around 3% profit. Not bad, but not what I was expecting. I don't like how BTC is looking and you all know how altcoins react when king moves!
Trade active: .786 fib got tested again and held, so did 200 EMA on daily. If BTC goes into cooldown mode, we could see some nice gains. I missed the exact .786 fib, but entered trade at 2864 sats. Lets see how it goes.
Trade closed manually: Although XTZ is still hanging around .786 fib, even after today's massive BTC dip, I wouldn't take this trade now. It seems that market wants to correct more. There is still room for RSI to drop, 200 EMA is still acting as support (though I'd consider it broken by not). For me 200 daily EMA is the last point of support, if a bigger market correction happends, I doubt it will hold and we will se much cheaper XTZ.