Tezos: EQ Pattern Tightening on XTZ/USD Pair

XTZ/USD has been in a tightening EQ pattern for weeks after a large bullish move forming a large Bull Flag . We can anticipate a break of this EQ pattern in a short to a medium-term timeframe.

One indication that leads me to believe this pattern will break to the upside is the current price action on the XTZ/ BTC pair. This trading pair was recently in a similar EQ Bull Flag pattern that has broken out to the upside and is now setting higher highs on the 4-hour timeframe. This leads me to believe there is strength in the demand for XTZ relative to BTC and it's current bearish trend .

Ultimately, BTC is the king asset in the market. Any major sell-offs or price pumps will influence the entire Altcoin market - including XTZ.

Trading is a game of probabilities and positioning. Always be in a position to take advantage of any probabilistic outcome.


whats your position on this trade right now?
@zwa2, I've been DCA into a long term position w/ Tezos to hold for 3-5 years. I'm not interested in short term price action. The 7% annual return on equity incentivizes me to just hold for the long term.

Still, if I see an obvious trade set-up, I will still highlight it. Keeps my skills sharp.
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