XTZ.BTC (Y20.P3.E2).TA on the Macro Structure
Updated
Hi All,
My thoughts on Tezos against BTC:
> Price is below the 10 to 100 EMA on the Daily price action and these ema ribbons have confluence headed towards the current 0.5 or 0.382 Fib retracement level as per chart, which is equivalent to the red min line of the Fan pattern, which at times can be a reversal pattern or bullish pattern.
> Note the points of touches on the chart structure, by the dark boxes. 2 touches to the top and potentially the 3rd touch to the bottom, completing the ABCDE formation.
> Note that we are in the 3 to 4 of the elliot impulse with a complex correction and the chart pretty much confirms this. I learnt recently that 3 to 4 is usually complex to strip of our gains with the 0 to 3 impulse which are usually clear trends. And just like BTC, we will end up going from 4 to 5 after this formation.
> Both bottom indicators show that we are approaching the bottom reversal area.
I'm looking for a cross over of the signals on the WT and if you note on the Phoeix, energy is moved above the 50% mark showing an emerging divergence.
Daily with key pivot points and levels
Daily with EMAs
12 HRLY chart: No bullish candles yet
Please give me a tick or a like for this post.
Regards,
S.Sari
Moving off the Tezos topic, check out the monthly close now and how bullish it still remains for the long term.
My thoughts on Tezos against BTC:
> Price is below the 10 to 100 EMA on the Daily price action and these ema ribbons have confluence headed towards the current 0.5 or 0.382 Fib retracement level as per chart, which is equivalent to the red min line of the Fan pattern, which at times can be a reversal pattern or bullish pattern.
> Note the points of touches on the chart structure, by the dark boxes. 2 touches to the top and potentially the 3rd touch to the bottom, completing the ABCDE formation.
> Note that we are in the 3 to 4 of the elliot impulse with a complex correction and the chart pretty much confirms this. I learnt recently that 3 to 4 is usually complex to strip of our gains with the 0 to 3 impulse which are usually clear trends. And just like BTC, we will end up going from 4 to 5 after this formation.
> Both bottom indicators show that we are approaching the bottom reversal area.
I'm looking for a cross over of the signals on the WT and if you note on the Phoeix, energy is moved above the 50% mark showing an emerging divergence.
Daily with key pivot points and levels
Daily with EMAs
12 HRLY chart: No bullish candles yet
Please give me a tick or a like for this post.
Regards,
S.Sari
Moving off the Tezos topic, check out the monthly close now and how bullish it still remains for the long term.
Note
in terms of XTZ USDT...my thoughts is thisNote
Ref.A.charts. XTZ holding well against BTC at this level.Looking for the sign for a good entry.
Note
XTZ.USDTNote
XTZ.USDT is progressing, next BTC pairingNote
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.