6-Hour Timeframe
Indicators:
12-period EMA
30-period SMA
MACD
RSI
1. EMA crossing above SMA = Bullish
2. Currently sitting above the 12-period EMA, retesting this 12-period EMA as support which the price can bounce off of.
3. This price has currently bounced off the golden pocket 61.8% fib level as support
4. MACD and RSI had a bullish divergence last week.
5. We are in an upward trend - higher lows and higher highs
6. Volume is looking strong
Final thoughts:
I am looking for a retest of the of 61.8% fib level OR the very least 12-period EMA and if this support level holds, I will enter a position.
There is resistance at $2.85 price level so we may have to wait and see how the price reacts to this.
Chainlink(LINK) has exploded these last few weeks and I do believe Tezos(XTZ) can follow a similar spike pattern, but this is an irrelevant observation.
Indicators:
12-period EMA
30-period SMA
MACD
RSI
1. EMA crossing above SMA = Bullish
2. Currently sitting above the 12-period EMA, retesting this 12-period EMA as support which the price can bounce off of.
3. This price has currently bounced off the golden pocket 61.8% fib level as support
4. MACD and RSI had a bullish divergence last week.
5. We are in an upward trend - higher lows and higher highs
6. Volume is looking strong
Final thoughts:
I am looking for a retest of the of 61.8% fib level OR the very least 12-period EMA and if this support level holds, I will enter a position.
There is resistance at $2.85 price level so we may have to wait and see how the price reacts to this.
Chainlink(LINK) has exploded these last few weeks and I do believe Tezos(XTZ) can follow a similar spike pattern, but this is an irrelevant observation.
Note
We have broke resistance, but we are currently oversold according the bollinger bands so I am looking for a retest of the 12-period EMA and I will enter a position from there.Note
overbought*Note
There is a gap at the $2.87 priceNote
XTZ has been support on the 4H EMA line, so I will be looking to enter a position if there is a close above.Note
Entered a position at $2.80
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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.
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.