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Tezos is reaching a critical decision point where long term ascending trendline meets shorter-term downtrend. With what seems like the precipice of alt-season, coupled with the strong price rebound and reclamation of said trendline after the at crash a few days ago, I'd expect XTZ to make an upward break and begin posting some strong gains going into 2021. Not to mention the EDO proposal, brigning zkSNARKS (privacy features) to Tezos, is on track to go live in February. Stars aligning.
Comment:
The recent 50/100MA crossover (green crossing orange line) adds further confluence.
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I agree but want to add some more technical confluence. We had a capitulation move and most traders that were long were wiped out on that panic move to the downside, resulting into a double bottom fakeout on the daily tf. I need to admit that tezos was probably one of the worst and most difficult instruments to trade in the year of 2020. Lets see how it goes in 2021.
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