Strong upward move coming
Updated
If you were following my previous idea, you'll see that Tezos is completing its head a shoulders pattern and the price is entering a strong demand zone.
My current theory is that Tezos is in the process of performing a 5 wave movement upwards. We are about to enter wave 3.
Any dips below $3 should be aggressively bought. I'm expecting to see volume pickup around this area.
Some profits can be booked at $5 to be safe. The final target for this wave is $6.30.
Keep an eye on volume. If volume doesn't pickup in the $3 area, a drop back down to the trendline at $2.60 is possible.
A drop below the previous low of $2.54 will invalidate this analysis.
Bitcoin could, of course, ruin the party; however, I'm expecting Bitcoin to make an upward move as well, into the high 40s and low 50s. This should be enough runway for Tezos to make its move.
My current theory is that Tezos is in the process of performing a 5 wave movement upwards. We are about to enter wave 3.
Any dips below $3 should be aggressively bought. I'm expecting to see volume pickup around this area.
Some profits can be booked at $5 to be safe. The final target for this wave is $6.30.
Keep an eye on volume. If volume doesn't pickup in the $3 area, a drop back down to the trendline at $2.60 is possible.
A drop below the previous low of $2.54 will invalidate this analysis.
Bitcoin could, of course, ruin the party; however, I'm expecting Bitcoin to make an upward move as well, into the high 40s and low 50s. This should be enough runway for Tezos to make its move.
Note
Volume has been picking up and things look to be reversing. It looks like the bottom is in. Adjusted targets are: first $4.88, second $6.15Good luck to all the Tezos bulls
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