TEZOS (XTZ/USDT) - Potential Bull

Hi All,

New to Tradingview, never have published any charts before, so i though i would take a shot with Tezos.

Bullish Scenario:
- Potential Cup & Handle on the 4 hour.
- Falling wedge (possible handle).
- MACD on the 4 hour bull has a bullish divergence (signaling a bullish cross).
- RSI on the 4 hour has been stagnant (sitting around 50).
- Still above EMA's on the daily chart.
- If volume increases, a break out of the falling wedge is likely.

Bearish Scenario:
- BTC dumps dragging most of the market down with it.
- Everything is the market has had a decent run up as of lately, possibly overheating,
- Daily RSI has a bearish divergence (sitting around 60).
- Daily MACD has a bearish divergence (signaling a potential bearish cross).
- Needs more volume.

To Long or not to long?
Short term targets if bullish breakout occurs - $7.3832.
Long term targets if Cup & Handle play out - $8.41 and above.

If dump - looking at support around $6.24 or even lower at $5.79.

Trade wisely and keep your eye on Papa Bitcoin.

Thanks! :)

Comment:

On the Hourly:
- Rising wedge, possible correction.
- Resistance at $7.16.