Bullish Setup Occuring (LINK GAINS???)
Updated
6-Hour Timeframe
Indicators:
12-period EMA
30-period SMA
MACD
RSI
1. EMA crossing above SMA = Bullish
2. Currently sitting above the 12-period EMA, retesting this 12-period EMA as support which the price can bounce off of.
3. This price has currently bounced off the golden pocket 61.8% fib level as support
4. MACD and RSI had a bullish divergence last week.
5. We are in an upward trend - higher lows and higher highs
6. Volume is looking strong
Final thoughts:
I am looking for a retest of the of 61.8% fib level OR the very least 12-period EMA and if this support level holds, I will enter a position.
There is resistance at $2.85 price level so we may have to wait and see how the price reacts to this.
Chainlink(LINK) has exploded these last few weeks and I do believe Tezos(XTZ) can follow a similar spike pattern, but this is an irrelevant observation.
Indicators:
12-period EMA
30-period SMA
MACD
RSI
1. EMA crossing above SMA = Bullish
2. Currently sitting above the 12-period EMA, retesting this 12-period EMA as support which the price can bounce off of.
3. This price has currently bounced off the golden pocket 61.8% fib level as support
4. MACD and RSI had a bullish divergence last week.
5. We are in an upward trend - higher lows and higher highs
6. Volume is looking strong
Final thoughts:
I am looking for a retest of the of 61.8% fib level OR the very least 12-period EMA and if this support level holds, I will enter a position.
There is resistance at $2.85 price level so we may have to wait and see how the price reacts to this.
Chainlink(LINK) has exploded these last few weeks and I do believe Tezos(XTZ) can follow a similar spike pattern, but this is an irrelevant observation.
Note
We have broke resistance, but we are currently oversold according the bollinger bands so I am looking for a retest of the 12-period EMA and I will enter a position from there.Note
overbought*Note
There is a gap at the $2.87 priceNote
XTZ has been support on the 4H EMA line, so I will be looking to enter a position if there is a close above.Note
Entered a position at $2.80
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