Ichimoku cloud and fib support around 0.786 (blue box) held nicely giving a continuation signal with higher low swing and the current trendline intact. C-Clamp (divergence) pattern forming alongside a crossover on lower band Stoch RSI makes this a medium risk play.
If the trendline is broken from of a lower low swing, de-risk by reducing position is an option but I'm prepared to hold through some volatility . I expect fib resistance around 0.786 (red box) and suggest taking profits around $8, then $9 before leaving remaining hold for price discovery .
If the trendline is broken from of a lower low swing, de-risk by reducing position is an option but I'm prepared to hold through some volatility . I expect fib resistance around 0.786 (red box) and suggest taking profits around $8, then $9 before leaving remaining hold for price discovery .
Comment:
Quick update as BTC tanked this week. Unfortunately TEZO broke through the trendline. Fundamentally speaking, XTZ is an undervalued project, think ATOM before it's eventual pump. It's a great buying opportunity but tax season is coming so I will refrain from moving funds to buy more.