The bulls successfully broke the $3.0 resistance with confidence volume (higher than a VMA(60)).
The strong uptrend momentum is likely on the bull's hand now.
Using Fibonacci, the 1st target is $5.3-$5.6.
Following a similar timeframe and buying power of the first rally, XTZ can reach $5.3 level by mid of April.
However, two important resistance must be broken first which are at $3.4 and $4.0.
The bears will defend aggressively the $4.0 level.
Buying Setup:
Traders can start to open a long position now with a strict stop loss at $2.8 (slightly below the 61.8% Fibonacci level).
It gives a risk to reward ratio of -13.5% loss over +64% profit, based on the current price at $3.24.
DISCLAIMER:
This is not financial advice.
Risk is on your own hand.
The strong uptrend momentum is likely on the bull's hand now.
Using Fibonacci, the 1st target is $5.3-$5.6.
Following a similar timeframe and buying power of the first rally, XTZ can reach $5.3 level by mid of April.
However, two important resistance must be broken first which are at $3.4 and $4.0.
The bears will defend aggressively the $4.0 level.
Buying Setup:
Traders can start to open a long position now with a strict stop loss at $2.8 (slightly below the 61.8% Fibonacci level).
It gives a risk to reward ratio of -13.5% loss over +64% profit, based on the current price at $3.24.
DISCLAIMER:
This is not financial advice.
Risk is on your own hand.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.