Market may be making some big moves, it is at a point where it usually bounces off the 200 EMA line on the 105 view.
If market bounces off at usually spot, I am not convinced any bounce here will be significant to the upside due to channel formation that should eventually break to the downside in my opinion.
Also a double top formation is another possible prep for a reversal.
Market is new to platforms and typically when an altcoin comes into market and generally heads up, it tends to eventually break down and often to make new lows in comparison to the beginning of it's market cycle.
Watch market closely, if you're in Tezos buy, consider your exit and/or sell entries.
Channel formation best view 12hours.
Best to observe 200 EMA on 105 view to observe market bounce off from this.
Other EMAs in use are 50 and 100.
All ideas are for informative purposes only, trade at your own risk.
If market bounces off at usually spot, I am not convinced any bounce here will be significant to the upside due to channel formation that should eventually break to the downside in my opinion.
Also a double top formation is another possible prep for a reversal.
Market is new to platforms and typically when an altcoin comes into market and generally heads up, it tends to eventually break down and often to make new lows in comparison to the beginning of it's market cycle.
Watch market closely, if you're in Tezos buy, consider your exit and/or sell entries.
Channel formation best view 12hours.
Best to observe 200 EMA on 105 view to observe market bounce off from this.
Other EMAs in use are 50 and 100.
All ideas are for informative purposes only, trade at your own risk.
Comment:
So far market appearing to bounce off the trend line, however still looking for a breakout out of channel.
Comment:
Market currently on the 1HR view, so far it broke EMA line and channel line so showing bear signs as expected.
Comment:
Better outlook without indicator...