XTZ BTC Tezos Bounce off Trendline Descending Wedge Breakout?
Here we see Tezos is bouncing off and defending a trendline stemming back to January, while simultaneously exiting a descending wedge that has taken the price down for the past month +.
And lastly, we can see the macd is on the verge of a potential bullish daily cross...something it has not done in 3 months...which signaled the start of a very nice run up.
The question is....how will BTC react and; more importantly, how will XTZ react to bitcoin's moves.
There is also a long term horizontal support/resistance line at play (denoted by the purple line).
Tentative stoploss should be placed below the diagonal trend support at around 2360 satoshis or so.
Trading alts is quite risky right now. Manage accordingly.
This is not financial advice.
And lastly, we can see the macd is on the verge of a potential bullish daily cross...something it has not done in 3 months...which signaled the start of a very nice run up.
The question is....how will BTC react and; more importantly, how will XTZ react to bitcoin's moves.
There is also a long term horizontal support/resistance line at play (denoted by the purple line).
Tentative stoploss should be placed below the diagonal trend support at around 2360 satoshis or so.
Trading alts is quite risky right now. Manage accordingly.
This is not financial advice.