TEZOS has broken through the support it has held since 2019, a further decline possible.
Many altcoins will have a similar fate.
Many altcoins will have a similar fate.
Note
Bears are watching for a loss of support and a return below the trendline.He will probably be back at work soon.
It would have been easy to fall straight to the bottom, so halfway through the market maker turned around and liquidated the short positions, letting the bulls get into the long positions at the top, and now they are slowly dropping them down.
Just my opinion.
Note
Looking at the Tezos chart, I still think the bears are headed for the 2018 bottom.
But after gaining liquidity in the area where it is currently located, a minor upward movement is possible, if there are short positions, it is necessary to eliminate them before the final downward movement.
My guess is that by the end of the year the area will bottom out, it would be around -96%, by which time the bears will probably be well fed and then start hibernating.
The bulls may start to emerge, but if I imagine a lot of people trapped on the way down and trying to exit the position, it's going to be a tough road up.
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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.