XTZUSD Tezos 1D Respecting Upper Resistance and Lower Support

11 thg 5, 2021

I believe Alt season is still upon us until we see a turn below a very strong support level. Despite the lack of news and glamour for Tezos, it still has legs. Tezos appears to be one of the few alts this season that has not yet really had a breakout to 3x and higher going back as far as October and November. Since that time, ADA, LTC, ETH, BCH, DOT, UNI, XDG, and XRP have all atleast gone 3x or further. Exposure to some of those other alts would have been a good move in addition to Tezos. I am long in those other alts as well as Tezos.

Based on the trend of Tezos, we seem to be bouncing between the support and resistance lines upward. I wouldn't necessarily take any action now either buy or sell, but wait for further entry in the buy zone and look for opportunities to sell in the sell zone. We could see Tezos in the next 3 weeks go down to $4.98, don't panic unless the daily closes below that, use that as an opportunity.

I hope this helps

Note:
Due to unforeseeable events that may occur due to twitter , bitcoin news, SEC, Pandemic's, or huge moves in bitcoin , don't hold to this chart. This is purely my analysis of what I think might play out. I've been right and I've been wrong, due your own due diligence. I'm not a professional trader, but someone trading in this space for several years. If you like my analysis or what I'm doing, give me a like.