Tezos (XTZ) vs BTC

7 mar 2020

*swing trade opportunity*

3-day displaying Elliot wave pattern with evidence of trend reversal. Divergence is also evident between price action and money flow. On the 1-day chart RSI support has been followed since June 2019, it is now acting as resistance. Clearer picture below. Expecting 40 & 60% drops to 20 & 15 sats, respectively, from current price action.

1-day chart showing failed RSI support

2 apr 2020

Nota

So far so good.. think we're almost at the end of the Elliot correction wave A, but I'll stay out until we're at the end of wave C myself.

27 mag 2020

Nota

The bearish divergence is now very clear to see - could be a few months if not more before this correction is over.

5 gen 2021

Trade chiuso: obiettivo raggiunto

Was expecting 60% correction, got 80%! Time to rotate back into Tezos.

Of the few alt-coins on the 4-day chart Tezos is one of those that has printed a Dragonfly DOJI candle indicating a strong reversal is about to occur following the oversold condition (orange column).

Well done if you managed to stay short until now.