XTZ.BTC (Y20.P3.E3).TA on the Macro Structure

Hi All,

~~ This is a continuation of the previous post, link below ~~

Today, after a bullish div move, we have Tezos on its way up (BTC pairing).

Observation:
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> Macro structure as you see is in the complex correction wave with a descending top declining flat bottom 3 to 4 wave.
> Within this section we observe 2 resistance levels a) resistance trend slope and b) yellow bar, key fib resistance level (0.382)
> I have marked the descending top declining structure with E having a strong bounce
> We have on the Daily bullish MACD, WT and Phoeix indicators
> We have most of the daily EMA as beneath the price action

My thoughts:
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Buy in now > to much going for it
When to enter, look at the smaller time frames.
Buy on the bounce areas but also risk missing the retest of the resistance level.

Fib level structure

Indicators confirm > cross over

EMA > 21, 34, 50 and 100 all now under the price

Please give me a like or tick for this helpful post


Cheers,
S.Sari


MY PREVIOUS POST > I should have guessed in will be another triangle structure

Comment:

Close up dynamics

Trade active:

It would be nice for this to pass before BTC drops, if it does in the coming days

Trade active:

A bit of work trying to figure where is the target. Based on the structure I have potentially 2 target levels, or maybe higher as there is no roof, just like LINK.

Comment:

Price dropped alot with this btc move and it went below a important line.
Lets hope it bounces back above the trend, otherwise if it closes here in the next 1 and 1/2 hours (4 hrly), then I will be bearish.