Signal: Buy as the price is testing the Higher Low trend-line of the Channel, following a Death Cross, being on the 0.618/ 1.236 Fib aggregate that previously was a buy zone.
Target: 4.500 (Resistance) and in extension 8.500 (Higher High of the Channel Up)
TA very successful on previous Tezos signals:
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Very nice work. The channel goes all the way back to Dec 2018 and its upper and lower trendlines have been respected very well ever since. This is obviously not a coincidence people. Anybody thinking price action just somehow magically respect the trendlines for 2 years has problems. I believe we have just touched the lower trendline once again, and price should be up from here. The RSI makes it even more obvious that price is reverting back up.
TradingShot
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@ttran123, Very well said. Such long term patterns more often hold than not. Let's see, personally I have 5% of Tezos on my portfolio.
ocnasigoreng
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@ttran123, it depends of what BTC is doing. if it continue to grow, XTZ and the rest of the alts will decrease vs BTC and maybe vs USD. If BTC will decrease, XTZ will also go down and after that, will come back
AryaxS
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Great work. Personally will be watching closely around 1.85 first.