Tezos / TetherLong
Will Tezo's invalidate the descending triangle?
Tezo's probably has the most interesting chart right now. While the other crypto's are looking quite bullish, tezos isn't quite there yet. There is clearly downside pressure with the descending triangle, but RSI hasn't quite bottomed which makes it unclear whether that's a good thing or bad thing. MACD is starting to level off, but it doesn't have buying pressure either. if the triangle were to be invalidated, we could get a move much higher.
Tezos opened at around 50 cents and we have almost reached there again. This makes for a good long term HODL trade. While out downside is limited to about a 40% decline, on the upside, we have 150% and much higher if we hit $5. We will get a move to the upside, the main question is when? Do we have to wait months for it to happen or will it happen sooner with the invalidation of the triangle? Plus, Tezo's is growing. Could it be a coin that eventually goes to $100? Possibly. It's worth trading and tucking some away for a long term move IMO.
Happy Hodling,
-Sherem
Tezos opened at around 50 cents and we have almost reached there again. This makes for a good long term HODL trade. While out downside is limited to about a 40% decline, on the upside, we have 150% and much higher if we hit $5. We will get a move to the upside, the main question is when? Do we have to wait months for it to happen or will it happen sooner with the invalidation of the triangle? Plus, Tezo's is growing. Could it be a coin that eventually goes to $100? Possibly. It's worth trading and tucking some away for a long term move IMO.
Happy Hodling,
-Sherem
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