Hello traders and hodlers! Let’s see how Tezos is doing today! But first, if you are new around here, I invite you to follow me to keep in touch with my analyses! Every day, I’m here to share a few thoughts with you, and I’m sure you’ll find something interesting around.
Tezos is doing an amazing movement. It reached our main target at $ 4, which was something we were talking about for a few months, and now there are no clear targets for the crypto. Maybe $5? Or $ 8? It doesn’t matter really; it seems that even the sky is not the limit when an asset is in such strong momentum.
But, let’s say you have Tezos and you want to know what to do with it. Keep in mind that the volume is decreasing (red arrow) in the past few days. This indicates that we may see a pullback ahead, and don’t panic if it hits the 21 ema again, ok? Which is the light blue line.
Pullbacks are normal and healthy, and usually they are just opportunities to buy (or buy more/again). The overall trend is bullish, and there’s nothing indicating that it will reverse. Let’s not confuse pullbacks with reversal!
If I were to buy it, I would wait for a pullback, as now the chart is too stretched. This way, I would buy a great crypto, for a cheaper price and with less risk. And if I were in a trade right now, there’s absolutely nothing to worry.
You could book half of your profits now, and the other half if it closes under the green line. Then, just wait to buy again after a pullback. I believe this is a good strategy to help you manage your anxiety level on this trade. And please, support this idea if you liked it! And follow me for more analyses like this!
Recent public trades (links below):
XP: +30% AAPL: +10% LB: +45% UKOIL: +62%
Congratulations to all of you, my dear subs, who believed in my trading methodology, and challenged the world by being a bull! We deserve to celebrate!
BECOME A MEMBER!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
While technically possible I doubt we are going to retest 21EMA - reason is these tweezer bottoms forming. Not a day we closed below 4 for a week, this could be viewed as negotiating pullback with time and space on the chart. Another reason is the 20 EMA coincides with macro resistance from Feb high around 3.65-3.7 level, where the price went down and met with vigorous buying pressure and thus proper resistance/support flip should be confirmed already.
@Nathan_Black, RIP alts I guess you are right after all. Let's hope for a rebound here.
ttran123
⋅
It did wick down to the 21 ema today for a retest of support. Should be up from now. Be patient people.
Nathan_Black
⋅
@ttran123, Agree. Supports are the best place to buy, as they offer the best R/R ratio.
Mudrex
⋅
Great analysis, thanks for sharing!
Do check out mine
melissakoc35
⋅
You just decreased my anxiety level. Fingers crossed Amazing analysis, thanks just became a follower
Nathan_Black
⋅
@melissakoc35, Hey Melissa, thanks for the kind words! Welcome to our community!
Strategies are made for us to keep our anxiety level under control and to help us to avoid commit mistakes that we wouldn't in normal circunstances. We can't predict the future, but we can react properly according to the signs the market is giving us.
Best regards!
DershtonMcDarsh
⋅
As usual, spot on!
Nathan_Black
⋅
@DershtonMcDarsh, Hi Dershton! Thanks for the support, I'm glad you liked it!