Hello traders and hodlers! The bulls are incredible! The bullish trend is absolutely strong here, no contest. Yesterday’s candle was just a pullback to the 21 ema and the blue trendline, and now it’s doing a bullish pattern, very similar to a Downside Tasuki Gap.
Now, it’s trading close to its first challenge, the 61.8% fib retracement, a strong resistance the bulls has yet to defeat, and if what I think counts to anything, I believe the bulls will defeat this fib retracement. Now, the hourly chart:
Ok, the price found a support at the light blue line, which is very good, and now the bears are struggling with the bulls, because they don’t want the price above this fib retracement. A pullback to the 21 ema would be nice though, since the hourly chart is too strained, in my opinion, and the bull trend could resume, stronger than ever.
Now, there’s something interesting at the weekly chart:
There are some long shadows left here, by the previous candles, and as I said, that’s a good bullish sign. These shadows are the scars on a defeated bear’s face. The bears tried to push the price down, but they got defeated. Now, if the bulls keep the price up and it close above the black line around $ 3.03, we will see a pivot which could lead the price to its next resistance – the $ 4.00.
Everything seems very good with Tezos, and if you liked this analysis remember to follow me to keep updated and support this idea clicking on the like button.
I invite you to comment below what do you think about XTZ!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
Now, it’s trading close to its first challenge, the 61.8% fib retracement, a strong resistance the bulls has yet to defeat, and if what I think counts to anything, I believe the bulls will defeat this fib retracement. Now, the hourly chart:
Ok, the price found a support at the light blue line, which is very good, and now the bears are struggling with the bulls, because they don’t want the price above this fib retracement. A pullback to the 21 ema would be nice though, since the hourly chart is too strained, in my opinion, and the bull trend could resume, stronger than ever.
Now, there’s something interesting at the weekly chart:
There are some long shadows left here, by the previous candles, and as I said, that’s a good bullish sign. These shadows are the scars on a defeated bear’s face. The bears tried to push the price down, but they got defeated. Now, if the bulls keep the price up and it close above the black line around $ 3.03, we will see a pivot which could lead the price to its next resistance – the $ 4.00.
Everything seems very good with Tezos, and if you liked this analysis remember to follow me to keep updated and support this idea clicking on the like button.
I invite you to comment below what do you think about XTZ!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
