TEZOS BULL (LINK GAINS!!)
4-Hour Timeframe
Indicators:
12-period EMA
30-period SMA
MACD
RSI
1. EMA crossing above SMA = Bullish
2. Broke below the 12-period EMA , but the 30-period SMA has been holding support.
3. The golden pocket 61.8% fibonacci level has shown support, and price can bounce off this level.
4. MACD and RSI had a bullish divergence last week.
5. We are still in an upward trend - higher lows and higher highs. Respected five separate times.
6. Volume is still holding strong.
Final thoughts:
After being overbought yesterday from major bullish activity, Tezos has retraced back to the 61.8% fib level which is a good area to position yourself for a long. If this level holds, we can see another spike in buying as most signs point to the bulls.
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. Broke below the 12-period EMA , but the 30-period SMA has been holding support.
3. The golden pocket 61.8% fibonacci level has shown support, and price can bounce off this level.
4. MACD and RSI had a bullish divergence last week.
5. We are still in an upward trend - higher lows and higher highs. Respected five separate times.
6. Volume is still holding strong.
Final thoughts:
After being overbought yesterday from major bullish activity, Tezos has retraced back to the 61.8% fib level which is a good area to position yourself for a long. If this level holds, we can see another spike in buying as most signs point to the bulls.
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.
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.