XTZ Tezos H&S or Bull flag
A few days ago i posted this chart:
Tezos shows a very scare picture here. My guess parabolic already broke and just retested, so could mean a big dump coming week or so. break of 2.7ish would be bad, break of 2.55 (that blue flag zone), even worse.
The only way they can prevent a big drop, is going sideways above like 2.6 for a few days. or break 3.0ish
Now we can see the parabolic broke and price dropped a bit, but it never really dumped, also no big sell volume to be seen. So just like ETH, it can still go both ways, but there is one big danger though as well now, the H&S on the left.
Now the only way i see this play out in the bearish version, is like the blue red line. Which means that we have to see a big drop and barely even making a retest of the neckline. Because anything slow and small, could still be as mentioned above, just consolidating above the 2.5/2.6 zone. So what i can judge here, if it's bearish, it should prob drop within like 24 hours. Think if it doesn't happen within that time frame, momentum could be shifting towards the bulls.
So would say that bulls are still in favor here and as long as we don't see a big drop, bulls could simply take over again. That black line on the left seems to be the short term level bulls need to break. The blue line would then also mean, that if we drop but don't dump, potentially even be a buy setup, but then means waiting patiently and getting some real confirmation first.
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Previous analysis:
Tezos shows a very scare picture here. My guess parabolic already broke and just retested, so could mean a big dump coming week or so. break of 2.7ish would be bad, break of 2.55 (that blue flag zone), even worse.
The only way they can prevent a big drop, is going sideways above like 2.6 for a few days. or break 3.0ish
Now we can see the parabolic broke and price dropped a bit, but it never really dumped, also no big sell volume to be seen. So just like ETH, it can still go both ways, but there is one big danger though as well now, the H&S on the left.
Now the only way i see this play out in the bearish version, is like the blue red line. Which means that we have to see a big drop and barely even making a retest of the neckline. Because anything slow and small, could still be as mentioned above, just consolidating above the 2.5/2.6 zone. So what i can judge here, if it's bearish, it should prob drop within like 24 hours. Think if it doesn't happen within that time frame, momentum could be shifting towards the bulls.
So would say that bulls are still in favor here and as long as we don't see a big drop, bulls could simply take over again. That black line on the left seems to be the short term level bulls need to break. The blue line would then also mean, that if we drop but don't dump, potentially even be a buy setup, but then means waiting patiently and getting some real confirmation first.
Don't forget to like if you appreciate this :)
Previous analysis:
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