Crypto certainly moves quickly and ironically I will have re-entered at basically the same price I sold when all is said and done at 3.15. Kind of ironic.
I will make this quick. Tezos has kept failing at breaking to the downside multiple times. While I was expecting more of a sell off to the $2 area, we just haven't gotten it yet. You can see the daily MACD gaining strength, RSI moving to the upside also indicating more strength. The lesser time frames have already turned bullish and I feel we could find a local bottom here for a much larger move to the upside. Which warrants a re-entry and a hold through any potential downside. I would prefer to risk holding through a move right now rather than missing the pre-halving move.
Best of Luck,
-Sherem
I will make this quick. Tezos has kept failing at breaking to the downside multiple times. While I was expecting more of a sell off to the $2 area, we just haven't gotten it yet. You can see the daily MACD gaining strength, RSI moving to the upside also indicating more strength. The lesser time frames have already turned bullish and I feel we could find a local bottom here for a much larger move to the upside. Which warrants a re-entry and a hold through any potential downside. I would prefer to risk holding through a move right now rather than missing the pre-halving move.
Best of Luck,
-Sherem
Note
On the cross, while it looks like a head and shoulders, it certainly has strength with price movement and MACD also turning up. Note
While we had a nice initial move, we came back quite quickly. As long as this support level holds, we will continue up. Note
not looking good here. $2.60 area has to hold or we will go much lower.Note
Nice rebound so far on tezos. I would like to see it push and hold above $2.85 for a sustained move higher.Note
Obviously with things like Corona Virus, markets go haywire. It goes back to what I was originally looking at where there is strong support at the $2 area and that we will get a bounce off this area here.
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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.