New to Tradingview, never have published any charts before, so i though i would take a shot with Tezos.
Bullish Scenario: - Potential Cup & Handle on the 4 hour. - Falling wedge (possible handle). - MACD on the 4 hour bull has a bullish divergence (signaling a bullish cross). - RSI on the 4 hour has been stagnant (sitting around 50). - Still above EMA's on the daily chart. - If volume increases, a break out of the falling wedge is likely.
Bearish Scenario: - BTC dumps dragging most of the market down with it. - Everything is the market has had a decent run up as of lately, possibly overheating, - Daily RSI has a bearish divergence (sitting around 60). - Daily MACD has a bearish divergence (signaling a potential bearish cross). - Needs more volume.
To Long or not to long? Short term targets if bullish breakout occurs - $7.3832. Long term targets if Cup & Handle play out - $8.41 and above.
If dump - looking at support around $6.24 or even lower at $5.79.
Trade wisely and keep your eye on Papa Bitcoin.
Thanks! :)
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On the Hourly: - Rising wedge, possible correction. - Resistance at $7.16.