proof_of_shill

Possible Break from $1.80 Downtrend

KRAKEN:XTZUSD   XTZ / USD
We have our first new candle formations above the downtrend on both the 1 & 4 hour charts since we topped out around $1.80. Eyeing strong closes above $1.35 for confirmation, which would also move us into the Kumo. A bullish TK cross on both hourly & 4 hour would further confirm reversal trend and keep us above the cloud of the daily. It's possible if BTC keeps pumping it pulls a lot of the alt-market up along with it (though XTZ still appears to pump/dump inversely to BTC and major alts like ETH at times).

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Cheers!

Comments

I agree - good analysis.
How is your experience with these Ichimoku 'double' settings?. I use 10 30 60 30 and I must say works best with Litecoin!
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proof_of_shill MateuszP.Rydzik
@MateuszP.Rydzik, experience with the double settings good so far, seeing a lot of action around the lines and clouds suggesting they're being respected at least somewhat.
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I agree with you xtz seems to move in the opposite directions in terms of btc eth. lets see if we can get a follow through
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