The long-term support for Tezos vs Bitcoin (XTZBTC) has been activated.
This support level was hit back in January 2021 and was followed by a 235%+ bullish wave.
This same support level was briefly breached in May 2022, 1.5 years of bear market correction, which signals that a trend change is very likely and soon to come.
Because this long-term level has been...
Welcome again, it is my pleasure to have your attention.
We are going to be looking at Tezos vs Bitcoin (XTZBTC) from a different perspective today.
Let's start with the daily chart:
- The first thing to notice is that the chart is bullish. This is important because Bitcoin is right now hitting new lows with very bad technicals, while this and other Altcoins...
XTZ was an early runner this cycle, but if you look at the price ratio between XTZ and ALGO, it's sitting at the perfect confluence of long term horizontal and downtrend resistance. Unlikely coincidence. I'm going to take advantage of the price disparity and swap my entire XTZ bag for ALGO. Let's see what happens.
A macro on the XTZBTC chart.
From a fundamental point of view, Tezos is my favourite coin. Regardless it's extremely slow price-action in the past years, I have come to the belief based on current market structure - that the bull is imminent.
Today Tezos (XTZBTC) is moving above the EMA300 grey line.
Just two days ago, prices also managed to break and close above MA200 and recently EMA10/50.
The MACD is very strong as well as the RSI.
We have higher highs and higher lows...
We are aiming for a new high.
This is another good one.
Tezos (XTZ) is moving in a main parallel channel and it's now printing an ascending broadening wedge pattern on the weekly chart in pair with bitcoin. I expect another leg up to the resistance zone at 0.00023 and then falling down to 0.00004 level. If it couldn't reach this resistance level and rejects the EMA50 at 0.00011 it's highly possible to break down the...
I have posted a lot of XTZUSD analyses recently. Some have worked out, others not. Based on what I've observed in the data over the last year or so, it is clear that XTZ pays great respect to the BTC pair, and only half-measured respect to any other pair. In this chart, cyan lines are 'anchors' and gold lines are 'beacons' identified by an algorithm which...
XTZUSDT reached a new ATH at 9.171, and was fall sharply to 7.2.
Look at the XTZBTC chart you will see a 3-year trend line play as a resistance which stopped XTZ from going higher.
I can't tell you when XTZ will break this line. But this pattern reminds me of Bitcoin price action back in late July 2020:
After Bitcoin broke-out from its 3-year resistance, it...