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UnknownUnicorn2434649
Feb 28, 2020 4:14 PM

Bear Proof $XTZ $XTZUSD #Crypto  Long

Tezos / United States DollarCoinbase

Description



Daily
Looking at our trend timeframe we see XTZ has remained in an uptrend, stochastic rsi showing momentum has bottomed out. Looking at our (3) most recent daily candles we see price forming higher lows, this is a good sign and we could be prepping for another leg to the upside.


4Hour
Shifting over to our pattern timeframe we see XTZ has broken out of its minor downtrend and tested for support, stochastic rsi showing momentum in favor of the bulls. A "wammie" double bottom was left inside our $2.60 zone. XTZ looks like it wants to make a radical jump from $2.60 to $3.60, however, we could see a retest of $4.00. A 4hour close above $2.75 is a good sign we will continue towards the upside. Last time XTZ was at this price we saw a run from $2.60 almost up to $4.00.

Comments
wjpb
Mwah, don’t know yet. Think it will go down more, before it will take off.
UnknownUnicorn2434649
@wjpb, what level of support do you think we hit?
wjpb
@Pips_In_Paradise, it looks a bit like a falling triangle to me. Support around 2.30?
UnknownUnicorn2434649
@wjpb, I can see a sell off towards $2.30, I hope we don't go that low
Miamicane1
As always, great commentary.
UnknownUnicorn2434649
Thank you @Miamicane1 I appreciate the kind words!
theyuha
it is outperforming Bitcoin plus it pays a dividend., just bought $300 more at 2.85
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