This is what I call TECHNICAL ANALYSIS!
Hello investors! Tezos keeps impressing me with its moves. I’ll not even start to talk about how the bulls are strong here, because you’re all tired of this already, so let’s talk about technique. But first, if you are new here, I invite you to follow me to keep on track of my analyses, I’m sure you’ll find something interesting!
So, about technique, XTZ did a very successful pivot and passed through the 61.8% fib retracement like it was nothing, and most impressive, found a support there. It was all going very well until this mini crash today. A big bar, with high volume, just after XTZ did a triple top… Seems bad.
But it found support at this pink line, which is the same point XTZ triggered the pivot, as you can see by the pink arrows. And now, it’s heading back to the 21 ema to seek a resistance. This is what I call Technical Analysis! But, are there any reason to worry here? Not at all, especially if you are a hodler. If you are a swing trader like me, you can just set a trailing stop at the previous bar’s low, at the hourly or daily chart, whatever suits you. Speaking of daily chart, here it goes:
No surprises here, Tezos is just struggling at the fib retracement, which is perfectly normal and expected, and it’s trading above the blue trendline and the 21 ema. There’s no sign of bears around. But this is no excuse for us to be careless, and that’s why I’ll follow XTZ daily with you here, so stick around!
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. *
So, about technique, XTZ did a very successful pivot and passed through the 61.8% fib retracement like it was nothing, and most impressive, found a support there. It was all going very well until this mini crash today. A big bar, with high volume, just after XTZ did a triple top… Seems bad.
But it found support at this pink line, which is the same point XTZ triggered the pivot, as you can see by the pink arrows. And now, it’s heading back to the 21 ema to seek a resistance. This is what I call Technical Analysis! But, are there any reason to worry here? Not at all, especially if you are a hodler. If you are a swing trader like me, you can just set a trailing stop at the previous bar’s low, at the hourly or daily chart, whatever suits you. Speaking of daily chart, here it goes:
No surprises here, Tezos is just struggling at the fib retracement, which is perfectly normal and expected, and it’s trading above the blue trendline and the 21 ema. There’s no sign of bears around. But this is no excuse for us to be careless, and that’s why I’ll follow XTZ daily with you here, so stick around!
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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