Long

XTZ (Tezos) vs BTC trade with CyEsm

By cybernetwork

Updated

AB = CD confluence with 127.2% Fib level.

Been accumulating BTC trading XTZ:BTC on the 1min chart as posted here.

Entered all my XTZ trading pool back in here when BTC shows strength, above resistance turned support line.

See BTC Chart:

Note

Likely to reconsolidate for awhile.

I'm all out if price falls below and gets rejected by the thin orange 200 VWMA, and the thick orange 200 SMA as well, on the 5mins.

It is important to note that the Ichimoku Cloud is starting to turn bearish.
Might considering doubling down with more.

Note

Note the AB=CD target is not an absolute target, but what I believe to be a possible potential trajectory endpoint, provided if bullish conditions continues to hold (including on BTC, which is in turn, coupled with the traditional markets for now with more weak-hands FOMOing back in after the stock market pumped)

See my BTC analysis:

BTC contn to find support above light-blue long-term trendline.

as well as my SPX analysis:

Note

BTC turning bearish biased on the immediate term.
However I am still presently holding on to XTZ atm (with stop loss set, cost-averaged abouts the 141.4% level.)

Note

Golden pocket + CYBER ENSEMBLE on the 1 hourly.

Note

Sell signal triggered on the 15mins.
AB=CD target, back down to the 61.8% Fib level.

Note

And (CYBER ENSEMBLE) Sell triggered on the hourly as well:

Note

AB=CD target invalidated, buy signal triggered.

Note

Perhaps going relatively sideways instead from now.

Note

Note: XTZ being supported at the 50% Fib lvl rather than revisiting the 61.8% is a sign of strength form the bulls — and will readjust my bias accordingly.

Note

CYBER ENSEMBLE *Buy* signal on the hourly triggered.

Note

Hidden Bullish divergence on the hourly:

Note

woops, scratch the above. It was incorrectly drawn in haste.
Here's the correct chart with the lines drawn.

Note

cybernetwork

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.