Early Bullish Signs #Tezos $XTZ

13 May 2020

Weekly
Looking at our highest timeframe we see can see the overall trend remains bearish, even though we've had 5 out of 7 of the previous weeks as bullish candles. Our previous analysis was showing a possible sell-off to $2.10, XTZ printed a low at $2.26 but did not budge. Stochastic RSI showing momentum is in favor of the bears.


Daily
Shifting over to our pattern timeframe we can see Tezos respecting our bullish channel with no signs of reversal. Stochastic RSI showing momentum has bottomed out and we should expect price to continue to the upside. A daily close above $2.55 activates our trade, a rejection from this level and expect XTZ to continue selling to our $1.80 level.