Following a 80%+ correction and oversold condition (orange column) the above 10-day chart has printed an ‘incredible buy’ opportunity.
Trading smart contract pairs is an excellent way to protect you dollar profits or better still increase them further, which is what this trade is about. (Dash/Zcash/XMR being another example of trading pairs).
Swing trading between like for like pairs is very profitable yet I never see many ideas like it on tradingview. The best part is you need only do it a few times per year - stress free.
Why bullish on Tezos?
1) The 10-day candle ‘Dragonfly DOJI’ + recent retracement
2) MFI resistance breakout (orange circle)
3) Stochastic RSI breaks up 20 following an astonishing 421-day period since it crossed down 80.
Good luck!
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Regular bullish divergence emerging
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Excellent 10-day chart printing for this pair. Clearly Tezos is going to out-perform Ethereum in this last wave of the Bitcoin bull run.
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PS: currently 8 oscillators are showing bullish divergence against price action. What does that mean? Throw the farm at it.
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On the weekly chart it is obvious to see a significant bullish divergence. Be patient.
thanks for the setup and the effort you put in.. peace
Scamtrader
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I like your posts a lot, and you're a great analyst.
I just came to the comments to state that i'd rather chop off my own balls than support the dinosaur that the Ethereum network is. It's slow, expensive and with 1inch and sushi deploying on polkadot it will soon have a real competitor.
If I am not mistaken, XTZ/BTC also looks good on the HTF chart.
without_worries
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@Scamtrader, Agree with dinosaur comment but less so with the self mutilation!
Was asked to pay $210 to make a transaction on the Ethereum recently - utterly bonkers. I don’t think this was what the future of money was supposed to look like. I suspect there is many many folks waiting for fees to drop before making a transaction. We saw what happened to Uniswap when Sushiswap came on the seen offering better service, people just moved.
Yes the XTZ/BTC pair show a similar trend. However, for some reason, the XTZ/ETH looks stronger.
Crypto_Hagu
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I dont have enough money to buy all these nice set ups, good one again. Of the people I am following I see a lot of positive LONG charts for Tezos. Must be ready to move big time.
without_worries
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@ozzyman2, It's always the same, you wait months and months, nadda and then 10 come along at once.
For info, I don't hold more than 5-6 crypto ideas at a time otherwise it is just becomes confusing. However if I find a nice set up I'll publish anyway, keeps me in practice ;)