Fundamental: The COT data for Bitcoin is net long, and the largest amount shorts were closed since beginning of January. Banks are taking profit on their short positions from the bear run. XLM correlates with Bitcoin
Technical: There is a daily M pattern that has formed depicted in white ( bullish ). This pattern completes at the neckline depicted by green....
#XTZ/USDT
$XTZ is inside weekly broadening wedge pattern, and price is near lower line.
🐮 holding the lower line of wedge that is the same with support zone, will increase price to resistance around $4 and break out from this resistance will head up price toward resistance of 0.5 fib level that is the same with ascending trend line.
break out from ascending...
TEZOS is holding the 3.23 to 2.72 Volume Profile support zone & is now trying to break above it with a higher high & a higher low in place.
If it succeeds in breaking above the black anchored VWAP from recent low & then cross above the nearest GANN line, then the next 2 FIBO levels will be targets. (See chart for TPs 4.48 & 5.37)
Rejection from VWAP or GANN line...
TEZOS
According to my game plan, which I published on March 8, Tezos hit exactly 1 target (4.13 USD) and returned to the support it has held since 2018.
I see the possibility to repeat 1 target or even target over 5 USD.
The possibility of a false break under the support to activate the stop loss.
Not the financial board.
Just for fun.
Tezos prices have been trading in a bullish trend since the beginning of the year, with prices rising from a low of $1.32 to the current high of $3.43. The overall trend is still very much intact and there is a strong possibility that prices could continue moving higher in the short term. The next major resistance area for XTZ prices is at the $3.45 level, which...
Following the clear channel we are in a good point to start long posizion, but obviously we do not forget to use stop loss if our purpose is only to trade for a short period of time.
Imo this is the more clear scenario in the crypto space:
- if you want to short, waint until confirmation below che yellow line
- if you want to make money, long here and set a stop...
XTZ still looks good, above resistance and tending up above the 50 SMA on the daily chart. Here’s the weekly chart as a reminder of the overall move possible
XTZ is trading in an ascending channel (Log Chart) since February 2020. Both trendlines was tested several times in the past.
There are many multiple factors that affect all markets last days or weeks, like events on Canada, Biden’s crypto executive order or Russia – Ukraine conflict, etc.
At the time of writing this report, XTZ is trading at $3.17, a further...
XTZ bounced on support at relatively high volume, while yesterdays green candlestick is bullish sign at least in the short term. If you don't bought the dip, you may enter the market in the next correction. The most obvious scenario is that price will rejected near the bearish trendline and return at the bullish trendline.
Trading is a probability game. There is...
The following are machine translations:
The overall trend in history fluctuated upwards.
Every time the deep pullback to the rising trend line can almost stop falling and rebound.
This time is no exception, touching the trend line and rebounding.
Uptrend lines can be viewed as a bottom for each deep pullback.
Here the uptrend line and the downtrend line form...
LONG-TERM: Double Bottom at the PCZ of a bullish shark lining up with support. (not financial advice)
tailoring position sizes for looser stops is important*
