Well, Tezos lost its strength for a few days – nothing to worry about, but it is annoying. Now, XTZ is in that kind of situation “now or never” that I personally like to trade.
First: It seems it is forming a bottom at the red line here, which is very good - any long trade here will have a high R/R ratio. Second: We see some good bullish candles around, like this hammer and most impressive of all – The Huge Engulfing.
If it closes above the green line, or if tomorrow’s candle breakout today’s candle high, it is a good long trade – stop under the red line. And to where it could go up? Well, I’ll keep my original position here and say that XTZ will seek the $ 4. Why? Here’s why:
This is the weekly chart. If this week closes in a candle, it will be a strong sign – just after it reached the 21 ema! If XTZ triggers a its at the weekly chart by breaking out the thin green line at $ 3.13, nothing will hold it until it hits the $ 4 – and maybe it will go even further!
In my honest opinion, any pullback here is just another opportunity to buy XTZ at a cheaper price, and this is what I’ve been saying for the last weeks.
This is it, my friends, and stay safe!
Recent public trades (links below):
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