What's WRONG with XTZ?
Hello everyone! The bulls are here, yes, but you guys know that I’m out of XTZ and I’ll not buy it any time soon. Some people asked me why I'm not attracted by XTZ the same way as to some other cryptos right now, and the answer is simple. I only wish XTZ hit the trendline and went closer to that red line, or better saying, I wished for a little stronger pullback. Just it, there's nothing wrong with XTZ. :)
But that’s good news for those who are already long here, because the bulls are so strong that they didn't even give a chance to someone who’s out to jump in the trade. On the other hand, other cryptos just made a bullish engulf near their supports, and that’s why I’m looking at them right now. XTZ did a harami near the 21 ema yesterday, which is also good, but bullish engulf are stronger, and since I’m out I’m choosing other cryptos right now. But I wish all the luck to those who are in XTZ!
Also, it's important for you guys to note the hourly chart:
The price is above that black line, which is a real war zone, and the only thing XTZ should do now is to close above that green line, which is the 61.8% fib retracement in the weekly chart! Look here:
So, that will be the final challenge for XTZ right now. After that you can find a “resistance zone” in the daily chart, and lastly, the U $ 3,944, the previous top. My best regards to you guys and stay safe!
Remember to follow me, I'm a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
But that’s good news for those who are already long here, because the bulls are so strong that they didn't even give a chance to someone who’s out to jump in the trade. On the other hand, other cryptos just made a bullish engulf near their supports, and that’s why I’m looking at them right now. XTZ did a harami near the 21 ema yesterday, which is also good, but bullish engulf are stronger, and since I’m out I’m choosing other cryptos right now. But I wish all the luck to those who are in XTZ!
Also, it's important for you guys to note the hourly chart:
The price is above that black line, which is a real war zone, and the only thing XTZ should do now is to close above that green line, which is the 61.8% fib retracement in the weekly chart! Look here:
So, that will be the final challenge for XTZ right now. After that you can find a “resistance zone” in the daily chart, and lastly, the U $ 3,944, the previous top. My best regards to you guys and stay safe!
Remember to follow me, I'm a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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