A ketchup with Tezos, Technical Analysauce with Rocky Outcrop. Have we got a valid fib now after a week consolidating? Upside and Downside targets.
Looking at the price action since the launch of this coin we can form good opinions about critical price levels. All of these are explained in detail using moving averages, oscillators such as the RSI, Stochs and MACD to explain the current trend on the Tezos price.
All from Rocky Outcrop, your friendly T.A – not financial advice, not a financial adviser.
In this quick five minute run down we look at where the price needs to be to find support by the larger long term fib retrace and compare that to the short term invalid one over HitBTC and Coinbase.
I am not a financial adviser none of this is Financial Advice.
Of course this is all speculative and mostly we are concerned in the Rocky Outcrop community with managing risk, people don’t go bust taking profits! Keep it simple, never risk anything you can’t afford.
I will have to update the video intro overlay where I spell financial adviser incorrectly, so far no one has noticed any of the spelling mistakes.
For that I am very grateful but I tend to leave them in for the fun of it when I notice them!
Recently we have witnessed Tezos go to all time highs without having any significant pull back. Could this be a pit stop on the way up or are we actually on the descent back down. The charts are not predictive, the best we can do is manage our own risk and choose areas to be aware of. I help out with some of that for XTZ in this 5 minute video.
Summary of video:
XTZ (Tezos) could be about to start making the Fibonacci retrace look like it could be valid. Downward price target to initially be aware of around $2.60. On the upside lets look out for anything resembling a double top, new highs, higher lows and especially ones that make the fib retrace invalid for now.
Be sure to check out my other videos and subscribe for more technical analysis. I’m publishing this video in part to measure the interest in Tezos (XTZ) as a coin/token/crypto etc. If the video gets some likes and comments then I’ll be encouraged to do more! Let me know if you’d like any more content on XTZ.