XTZUSD Bottom priced or close. Buy opportunity to $15.00.
Tezos has been one of the most consistent coins since the December 2018 market bottom, as it has been trading within a structured Channel Up with very clear dynamic bottom and top levels.
As the chart (1D time-frame) shows, every Higher Lows of the Channel has been either at or slightly below the 0.618 Fibonacci retracement from the previous Higher High. At the same time, the CCI indicator on the 1W time-frame, shows that every time it breaks below the -100.00 level, XTZUSD bottoms out. A Bullish Cross by the 1D MA50 and 1D MA100 follows to confirm the start of the rally.
Currently the price bounced off the 0.618 Fibonacci retracement level earlier this month but the 1W CCI is at -80.45 so far. This is low enough for long-term traders who don't wish to wait for -100 and miss out on a potential sudden rally. The target within this Channel Up has always been the -0.382 Fibonacci extension, so ours is set slightly lower at $15.00.
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As the chart (1D time-frame) shows, every Higher Lows of the Channel has been either at or slightly below the 0.618 Fibonacci retracement from the previous Higher High. At the same time, the CCI indicator on the 1W time-frame, shows that every time it breaks below the -100.00 level, XTZUSD bottoms out. A Bullish Cross by the 1D MA50 and 1D MA100 follows to confirm the start of the rally.
Currently the price bounced off the 0.618 Fibonacci retracement level earlier this month but the 1W CCI is at -80.45 so far. This is low enough for long-term traders who don't wish to wait for -100 and miss out on a potential sudden rally. The target within this Channel Up has always been the -0.382 Fibonacci extension, so ours is set slightly lower at $15.00.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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