✳️ Tezos Candlestick Pattern Confirms Bottom (500% Or More)

16. Juli 2023

Join me, let's start with candlestick reading.

Tezos (XTZBTC) Weekly Chart


We have two candles to look at in this chart.

1) Following a strong drop, high bear volume, we get a Hammer (26-June). It produces a lower low compared to early June but the volume is lower and the candlestick closes green. All this combined can be read as a reversal signal.

2) This week we have a full green candle with the highest volume since February and trading above the four previous candles high/close. This candle confirms the reversal signal we got from the hammer.

That's it.

You can also see a young bullish cross on the MACD, with bullish divergence on the histogram turned green:

And the RSI hitting a new All-Time Low.

I don't know if Tezos will increase in price but the chart is saying up.

The potential can vary... Medium-term 300%, long-term much more.
Additional details on the chart.

Namaste.