m00nsnacks

m00nsnacks

What do you know, Tezos almost made a new ATH and proceeds to dump 40% over the following week. To say long term holders and the community is dejected is an understatement. This coin has been nothing short of a series of gut punches to its biggest supporters. Right when you get most excited, it reaches in and rips your soul. Until Tezos proves me wrong I'm...

m00nsnacks Updated 

A lot of moonboys out there on twitter guaranteeing ATH and/or $10 by the end of the week. Hate to break it to you, it's not going to happen. But the good news is if this cup and handle formation comes to fruition we will likely close September above $9, which would be insanely bullish.

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Assuming a stable broader market, Tezos is poised to continue its surge. While the USD chart is at all time highs, the xtz/btc chart is at a crucial resistance level. Expecting some churn over the coming weeks before exploding.

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If XTZ closes the week below $3.50, I'm expecting another three to six months until we come close to retesting $5.50. Bottom price target is around $2.25 by May if the bears win the rest of this week. If somehow XTZ manages to close the week above $4.25, this would be incredibly bullish and I would expect to see an enormous surge of buying follow. Needless to...

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The last 6 months have been trying for Tezos holders, but patience might soon pay off. XTZ is currently trading in the $3.50 range, and should it break we could see new all time highs shortly thereafter. If the February close is indeed the highest mark yet, the remainder of 2021 should be electric for Tezos.

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Once tezos closes above the grey box look for buying to accelerate rapidly. Good chance it retests and breaks USD ATH's soon after resistance is taken out.

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Tezos finds itself at a most critical juncture. $3.10 is possibly a more challenging resistance level for Tezos than $2.00 was earlier this year. The fact that xtz has not pumped above $3.10 yet during the recovery gives me hope that many of the would-be sellers on the ride up are exiting here. Thus, if we can get past this level many of the sellers will have...

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I know everyone wants bitcoin to hit $20k tomorrow; however, $15k by year end would be a gigantic win for btc. What the asset needs is price resilience and stability to attract more sophisticated long-term investors. Longs and shorts need to be taken out and the trend needs to be indistinguishable between bullish and bearish. A breakout from that zone is when...

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What a beautiful sight for Tezos bulls. The consolidation over the past few weeks appears ready to make a breakout. Strengthening bitcoin technicals will continue to act as a tailwind lifting xtz even higher. Still reason to be cautious given the macro environment; however, this setup looks pretty. Grab your popcorn.

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Really like this setup assuming the macro environment remains somewhat stable. If equity markets retest March lows it's highly unlikely this scenario plays out. If you think the Tezos comeback was extraordinary, wait until you see what happens when $4.00 is taken out.

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Gold is now outperforming bitcoin since Grayscale launched the #dropgold ad campaign May 1, 2019. Will be interesting to track this over time.

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Volume has increased drastically after breaking past $3.00 resistance last evening --- this is extremely positive as the price decline from $3.99 to $2.50 was on low trading volume. The recent dip reminded me of the March 2019 dip after Tezos rose from $0.30 to $0.95 and dipped to around $0.60 before resuming the bullish action.

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If it closes the week above $3.08, that would be two consecutive weeks with giant wicks and bounces to end the week. Watch this level closely.

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If this pattern holds, I expect we will see $4.00 by middle / end of March.

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Current setup looks reminiscent to January 22nd run from $1.65 to $1.44 in a 2-day stretch. Let's see how this plays out.

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After Ethereum broke through it's initial trading range, price increased by 160% in 5 days. It then fell 45% the next day, but quickly rose back and resumed the bull. In less than 2 months, ETH rose from $22 to $100. Tezos had a similar, albeit less dramatic rise, after breaking it's trading range - climbing 93% over a 7 day period. It's currently down around...

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Yesterday I highlighted what Tezos would look like if it followed Tesla's recent trading range breakout. $3.50 within a few months is fun to think about. But what would happen if this xtz trading range breakout were to mirror Ethereum's from 2017? Bottom line is Tezos is now in price discovery. Its ok to let your imagination run wild.

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Weird comparison - I get it. But I want to showcase what can happen when something breaks out of a long-held trading range. In the week of December 16th, Tesla broke out of its 2.5 year trading range and has since climbed over 150%, culminating one of the most impressive month and a half runs ever. Similarly to Tesla, this past Sunday, Tezos broke out of its...