Hello everyone! Ok, so XTZ is giving us a bullish sign here, it’s behaving similarly to other cryptos, and it seems it is a bullish engulf. Also, we can see that the 21 ema is holding the price for now, which is good for the bulls.
You guys know that I would prefer a sharper correction to buy XTZ, like it did happen with ETH or LTC, but that’s ok. Who already have some XTZ are in a more comfortable position here, in my opinion, and it would be even better if the bulls keep the prices up.
That being said, if you have cash, I believe there’re more interesting cryptos to look for, in my opinion. But if you are in, it isn’t time to sell or go short. It’s worth to hold it tight, and if the price close tomorrow above the 61.8% fib retracement would be perfect for the bulls.
Also, be aware of the hourly chart:
That black line seems to be quite important, and it will be good if the price stay above it, but the bulls wouldn't want to lose that red line. In that case I believe the price will seek further supports like the other red line and the trend line (both in the daily chart). I wish you guys luck!
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.
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You say there are more interesting cryptos if you're sitting in cash now. What others do you see as a good buy?
Nathan_Black
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@cryptocliche, Hello cryptocliche! Well, in my case I bought more LTC, because I already have some since apr 22 (you can check my ltc analyses for more details). And I bought some ETH again, since I had some nice profits from previous trades and it did a more intense pullback (it hit the trendline, something XTZ didn't).
Miamicane1
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@cryptocliche, I am a long term HODL. Patience is the key. Check out OX and MCO(Mr. T's top picks) Stay safe
cryptocliche
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@Miamicane1, I am as well, but I was looking to add to my current stack and/or make some profitable trades on the way up. I have little experience with trading, so I'm being cautious. I'll check out your recommendations, thank you!
Dfuchs08
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Great analysis man!
Nathan_Black
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@Dfuchs08, Thanks Dfuchs! Stay safe and good trades.
wratorres
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Beaty! Thanks
wratorres
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thanks, so it seems buying zone will be up to 2.90.
Nathan_Black
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@wratorres, The bulls will be there, for sure. Let's wait for some confirmation.
Be safe.