RichLoan6k
Long

Bullish Setup Occuring (LINK GAINS???)

KRAKEN:XTZUSD   XTZ / USD
6-Hour Timeframe
Indicators:
12-period EMA
30-period SMA
MACD
RSI

1. EMA crossing above SMA = Bullish
2. Currently sitting above the 12-period EMA , retesting this 12-period EMA as support which the price can bounce off of.
3. This price has currently bounced off the golden pocket 61.8% fib level as support
4. MACD and RSI had a bullish divergence last week.
5. We are in an upward trend - higher lows and higher highs
6. Volume is looking strong

Final thoughts:
I am looking for a retest of the of 61.8% fib level OR the very least 12-period EMA and if this support level holds, I will enter a position.
There is resistance at $2.85 price level so we may have to wait and see how the price reacts to this.


Chainlink(LINK) has exploded these last few weeks and I do believe Tezos(XTZ) can follow a similar spike pattern, but this is an irrelevant observation.
Comment: We have broke resistance, but we are currently oversold according the bollinger bands so I am looking for a retest of the 12-period EMA and I will enter a position from there.
Comment: overbought*
Comment: There is a gap at the $2.87 price
Comment: XTZ has been support on the 4H EMA line, so I will be looking to enter a position if there is a close above.
Comment: Entered a position at $2.80

Comments

its going to bust that 2.85 level up give it time.
Reply
RichLoan6k paypay9000
@paypay9000, I believe it 🙏
Reply
paypay9000 RichLoan6k
@RichLoan6k, just did it lets see if it will stay above 2.85
Reply
RichLoan6k paypay9000
@paypay9000, Yessir. We are currently overbought on bollinger bands and nearing it as well on RSI. Looking for a retracement back to at least the EMA 🙏
Reply
NeoKlyptic RichLoan6k
@RichLoan6k wheres the ema at
Reply
RichLoan6k NeoKlyptic
@NeoKlyptic, it just got supported by it right now, I want to see a 4H close above it as support before entering.
Reply
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