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Tezos

XTZ.BTC (Y20.P3.E2).TA on the Macro StructureHi All, My thoughts on Tezos against BTC: > Price is below the 10 to 100 EMA on the Daily price action and these ema ribbons have confluence headed towards the current 0.5 or 0.382 Fib retracement level as per chart, which is equivalent to the red min line of the Fan pattern, which at times can be a reversal pattern or bullish pattern. > Note the points of touches on the chart structure, by the dark boxes. 2 touches to the top and potentially the 3rd touch to the bottom, completing the ABCDE formation. > Note that we are in the 3 to 4 of the elliot impulse with a complex correction and the chart pretty much confirms this. I learnt recently that 3 to 4 is usually complex to strip of our gains with the 0 to 3 impulse which are usually clear trends. And just like BTC, we will end up going from 4 to 5 after this formation. > Both bottom indicators show that we are approaching the bottom reversal area. I'm looking for a cross over of the signals on the WT and if you note on the Phoeix, energy is moved above the 50% mark showing an emerging divergence. Daily with key pivot points and levels Daily with EMAs 12 HRLY chart: No bullish candles yet Please give me a tick or a like for this post. Regards, S.Sari Moving off the Tezos topic, check out the monthly close now and how bullish it still remains for the long term.
Long
by ssari
1
XTZ H&S shortXTZ had a good run but it seems that volume and overall interest is fading away. Investors who are interest in staking awards are moving to Ethereum. Not a financial advice but I'm long on ETH and short on Tezos. Also if you are trading futures on Binance, XTZ has a massive red hammer, which looks pretty similar to the one that has been seen on XRP chart a ~month ago and it dumped hard. I'm expecting pretty much the same outcome - XTZ will dump hard before the next bounce. In the long term (months/years) I'm very bullish but for now it seems that this coin is going down.
Short
by Bullversitycom
1
Tezos is cheapXTZ/BTC has been consolidating in this symmetrical triangle since February. If you're fundamentally bullish on this coin, and who isn't, you might be looking for buying opportunities. Bitcoin looks like she's about to go running, which has made alts skittish. But such drops in alts, especially liquid ones, often play into the bigger picture even when they're triggered by external or random factors. The March selloff, for example, gave Tezos a roughly 50% correction of the screaming upmove it had been making, taking it to rest right on previous resistance now turned support. The move down yesterday took price into resistance-turned-support from over a year ago. This coincides with the 200-day Simple Moving Average. The "real" MAs on charts such as Huobi's with more history are in more or less the same place. So could it bounce here? Possibly. But stronger support, the 200-day Exponential Moving Average, and the lower triangle trendline, are a bit lower, and that's where I'm looking for a higher probability long. Then hopefully a break of the upper triangle line, the resistance at the top of this range, and blue skies above.
Long
by SimpleCryptoLife
4