Long
✳️ Tezos Candlestick Pattern Confirms Bottom (500% Or More)
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.
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.
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lamatrades.com (Since 2017)
🏆 Results: t.me/alansantana1111/5935
🥇XRP +1950 🥇ADA +2216% 🥇AVA +536% 🥇AAVE +417%
t.me/alansantanatrades/971
🔝 Cryptocurrency Technical Analysis
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