Time to see if that last call plays out. Regardless of what happens next I will be hodling, and if the opportunity comes I will be buying more. Hope everyone is enjoying the ride. :)
the combination of indicators on the 4 hr. looks like we could break this little down trend we have. note: im new to TA so id love to hear thoughts and opinions
If you haven't seen the updates on my last XTZ thread, I got out at the $3.20 area for a slight loss on my re-entry but overall it was a hugely profitable position trade. My concern has always been that we could go down to as much as $2. Which Tezos now seems poised to do. I was reluctant to sell my last position because of the massive profit we already had and...
If u can’t see the monster bull trend. Regardless of it’s current gains it’s created higher highs and higher lows. It is currently working itself around on the daily but all other major time scales point much much higher. Nothing screams major pullback just yet.
Going to be quick here. I really like this Tezos Market structure we have going on here. iH&S. broken trendline and the rest of the market is holding. Re entering for basically what I bought in for.
Cheers,
-Sherem
This is likely the last bout of downward pressure before we begin to go up exponentially in the month of March, 2020. It's POSSIBLE they could take it up a bit first (bull trap) just before slamming it down between $3.09 to $3.20. This coming "estimated" move down is NOT GUARANTEED. This is only my opinion based on my observation.
Weekly
XTZ on our trend timeframe showing an uptrend with no signs of reversal. Stochastic RSI showing momentum in favor of the bulls with no signs of reversal. We should expect next week's candle to make a push towards $3.80, possibly higher with enough momentum.
Daily
Shifting over...
Tezos will most likely fall to the .382 to .5 fib before a short term bounce, keep in mind that the weekly RSI is at 82 so a retrace to the .618 fib is very possible and will make a fantastic buying opportunity. Tezos is an extremely hyped project but has a long way to go, good things happen to patient traders. Happy trading everyone.
XTZ/USD at 38,2% Fib Retracement from All Time High.
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