On the XTZUSD chart, we are hitting this MAJOR trendline. I imagine this will hold as support and we will move higher from here. You can also see that RSI is extremely oversold which would also indicate a move off this $2 area.
If we coincide this with the XTZBTC cross, we can see that RSI is also very oversold here and hitting this .618 fib line. this should also produce a bounce.
Tezos's has now gone down almost 50% in just a month. It's definitely oversold.
Look for bounces targetting this $3 area. Once we get there we can see if it's due for a much larger run up in the near term.
Cheers,
-Sherem
If we coincide this with the XTZBTC cross, we can see that RSI is also very oversold here and hitting this .618 fib line. this should also produce a bounce.
Tezos's has now gone down almost 50% in just a month. It's definitely oversold.
Look for bounces targetting this $3 area. Once we get there we can see if it's due for a much larger run up in the near term.
Cheers,
-Sherem
Nota
I spy... bullish engulfing...Nota
Yep, bullish engulfing - 
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