XTZ.D - risk to rewardRisk to reward for a roll over down is better then for a continued breakout here , imo:
Resistance to both BTC and ETH on so many levels.
Also, overbought on multiple time frames to BTC, ETH, and USD.
Could sell to:
1) Btc dominance hold
2) Btc halving effect
3) Eth dominance breakout
4) Flight to safety fiat, commodities if total crypto turns risk-off
5) Other alt breakout setups. musical chairs.
Also, still watching crypto coupling with equity markets..
That said, consolidation here is bullish, as is any highs above March / Feb highs to BTC.
XTZXBT
Tezos Top-down analysisTezos is just an absolute beast, no denying. It has broken up its corrective wedge pattern on the daily and is making a run for the highs again. It's definitely in a possible area of resistance/consolidation based on the fibs but could just blast through it. It is right at the log .618 from the high but has surpassed the .618 on the arithmetic/linear scale. I included the BTC pair in the bottom right to illustrate how it appeared to be making a *potential* head and shoulders and broke that pattern strongly, which is typically a strong buy signal once the right shoulder level is broken.
Also, its basing pattern appears to be similar to Bitcoin and other major alts basing pattern so I think it's possible Tezos is leading here.
