XTZUSDT trade ideas
XTZ repeats history?Just an idea I wanted to share, to see if history repeats itself. The price action we're seeing is somewhat similar to just over a year ago. The candles, RSI, and MACD all tell the same story. If history rhymes, XTZ could go sideways and then down to touch the yellow support line before rallying. What do you think?
XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20XTZ 4h 1215 17h20
Tezos (XTZ) technical analysisIf zoom out, we can see that the Tezos is moving in an inverted wedge/triangle pattern. There are support and resistance lines/areas which when the price reaches, will bounce off it. Currently, XTZ is moving down, also in an inverted wedge/triangle. The best area to buy is when the price reaches the area near the bottom of the pattern.
Tezos/usdt long term perspectiveTezos has established a nice uptrend, as we can see the price bounced from 0.786 fibo, longterm trend line and support. I expect price to rise from here until it reaches upper band, but first we need to break out above purple box :).
It is not financial advice, I'm just sharing my personal view.
๐ฅ XTZ Forming A Bullish Inverted Head & Shoulders PatternSince the major sell-off late last week, XTZ is one of the most volatile assets in the market. A massive bullish push of +60%, followed by an almost 30% sell-off.
This morning, XTZ found support around $4.5 area. This reversal is shaping up to form the second should in an inverted head & shoulders pattern. Conservative investors might want to wait for the pattern to be completed before entering a position. Risk-loving investors might want to consider stepping in now to ride the potential wave upward.
For the remainder of the weekend, BTC and the stock markets seem to be in a relatively good shape due to positive inflation news. I'm quite bullish.
Happy trading!