XTZBTC has been one of the most consistent pairs throughout the year 2020 so far. So consistent, that in fact helped me calculate the exact top and take a sell position and hit the target with surgical accuracy as you can see on the idea below:
Now I believe it is time to start...
Pattern: Channel Up since December 2018.
Signal: Bullish as the price has rebounded on the Higher Low of the Channel Up to the 1D MA50 while the RSI is replicating a bullish pattern.
Signal: 3.9000 (roughly the previous Higher High and 5.000 (+430% from the Higher Low) in extension.
Sell on 1 hour chart (oversold)
Sell on 7h chart
Sell on 1 day chart (oversold)
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XTZ is testing the support level of a bullish rectangle and is forming indefinition candlestick pattern.
The buy point is indicated if the price goes above today's candlestick pattern.
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Tezos bulls revive the uptrend after bouncing off support at $3.20.
XTZ/USD could build on the wedge pattern breakout and achieve highs not only above $4.00 but also $4.50.
Tezos bulls managed to defend the support at $3.20 following a continued breakdown from the 2020 high traded recently at $4.50. The downtrend remained unstoppable with the price breaking...
** This is a additional TA to the previous post on XTZ with BTC pairing **
As we had a strong BTC dominance divergence play out, we had XTZ.BTC price drop and bounce significantly while slowly regaining lost territory.
I did this TA against the USDT to see if its still within the acceptable levels for a next wave up. Happily to say, the restests of the...
2 weeks ago we projected a potential 14% drop for Tezos. That exact target was reached 14 days later.
As of today, momentum is still negative although price may establish support at this level.
XTZUSD will need to climb 9% to get back above the downward trendline to show positive...
#XTZUSD is pretty flat at present. Slowly negative momentum is seeping into the longer term time-frames. Tezos needs a good positive push to break the current downtrend so it can re-set for another test of the ATH.
Not very good trading signals but certainly an accumulation phase for true believers.
Short-term moving averages help reveal price swings at any time-frame and produce good signal strategies. Here we can see short-term moving averages on XTZUSD with the yellow line whipsawing downwards into the grey line suggesting negative pressure on price.
MACD is pushing down
Candle formation also showing negative
We are now short-term neutral, even...
With 4 hour, 6 hour and 12 hour charts all looking positive, the 2 day chart reveals an upwards MACD cross-over, now with a 20% gain up to the target we set for this market in late May. A close above recent highs at $3 should trigger a strong rally.