Cryptocohen: A pretty gnarly looking weekly is forming here on EOS with price pushing up to test the weekly highs at 3.88 but failing to close above. As mentioned in chat, all the majors are moving in tandem at the moment so for EOS we are expecting a grind higher before more downside. EOS is one of the weaker alt majors so it might not even make it up to the 61.8
XTZ is currenlty in the buy zone. Even though it could dip lower and hit the block in the 940 region, it still presents a great buy opportunity.
Once BTC settles, it will probably fly.
The best play here is to patiently wait for XTZ/BTC to enter on a break of 1260 and target the mid range at ~2400.
As you can see on the chart, clear breakout of descending line with confirmed bullish divergence on daily timeframe, which usually shows asset bottoms. Fibonacci levels indicate potential targets
XTZ has been beaten so hard since Aug. With the recent drop of BTC.D as well as ETH going wildly. It will be soon its day
Note: If you like the content and the setup,...
Technically we are support from both parallel channel and horizontal support from previous periods, divergences on the RSI, MACD on the daily TM, wave 5 completed and it just seems that it should fly soon.
BUT, if BTC keeps going up and the dominance cannabilizes the alts, then this would go down further. Best scenario would be for BTC to settle above the 12k...
Retail was heavily dumped on. I believe correction is over and this is logical area for whales to re-accumulate and absorb liquidity. Retail has likely capitulated by now.
EVSTC indicator shows start of accumulation phase as well.
Target? Weekly EMA I guess, as indicated by the blue line.
This channel on the XTZUSD pair is still holding. For a larger move to happen in the near term, we need this area to hold. This could ratify this larger channel pattern and would send us higher.
While on the XTZ/BTC pair we can see where RSI has hit it's lower bound every time but 2 it has rebounded. I still think we are poised for a sharper move up in the near...
XTZ is at the bottom of the previous bullrun, which raised from 1500sts to 4000sts.
So there is definitely a significant buying force here, we can buy with low risk.
📈BUY- LONG Strategy
- Buy in the 1450-1500sts zone, stop loss if the 1D candle closes below this zone
- Sell in the zone of 2200sts, stop loss if the 1D candle closes above this...
There are 2 descending wedges that have formed. A larger, longer term descending wedge that is nearing its end and a smaller descending wedge inside the large wedge. Either way we break out of the small wedge, the bears or bulls haven't really made any progress until the longer term wedge pattern has broken. A lot of uncertainty in the markets with what is...