XTZ/BTC has been consolidating in this symmetrical triangle since February. If you're fundamentally bullish on this coin, and who isn't, you might be looking for buying opportunities.
Bitcoin looks like she's about to go running, which has made alts skittish. But such drops in alts, especially liquid ones, often play into the bigger picture even when they're triggered by external or random factors.
The March selloff, for example, gave Tezos a roughly 50% correction of the screaming upmove it had been making, taking it to rest right on previous resistance now turned support.
The move down yesterday took price into resistance-turned-support from over a year ago. This coincides with the 200-day Simple Moving Average. The "real" MAs on charts such as Huobi's with more history are in more or less the same place.
So could it bounce here? Possibly.
But stronger support, the 200-day Exponential Moving Average, and the lower triangle trendline, are a bit lower, and that's where I'm looking for a higher probability long.
Then hopefully a break of the upper triangle line, the resistance at the top of this range, and blue skies above.
Bitcoin looks like she's about to go running, which has made alts skittish. But such drops in alts, especially liquid ones, often play into the bigger picture even when they're triggered by external or random factors.
The March selloff, for example, gave Tezos a roughly 50% correction of the screaming upmove it had been making, taking it to rest right on previous resistance now turned support.
The move down yesterday took price into resistance-turned-support from over a year ago. This coincides with the 200-day Simple Moving Average. The "real" MAs on charts such as Huobi's with more history are in more or less the same place.
So could it bounce here? Possibly.
But stronger support, the 200-day Exponential Moving Average, and the lower triangle trendline, are a bit lower, and that's where I'm looking for a higher probability long.
Then hopefully a break of the upper triangle line, the resistance at the top of this range, and blue skies above.
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🔥 Beyond Market Structure Paid Space is now live! is.gd/beyondMS
🆓 All my free scripts: is.gd/simplefree
🆓 All my free scripts: is.gd/simplefree
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.