{"id":12020,"date":"2022-05-27T08:23:14","date_gmt":"2022-05-27T08:23:14","guid":{"rendered":"https:\/\/tradingshot.com\/?p=12020"},"modified":"2023-05-10T08:25:55","modified_gmt":"2023-05-10T08:25:55","slug":"xtzusdt-still-bearish-unless-the-1d-ma200-breaks","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2022\/05\/27\/xtzusdt-still-bearish-unless-the-1d-ma200-breaks\/","title":{"rendered":"XTZUSDT Still bearish unless the 1D MA200 breaks"},"content":{"rendered":"

 <\/p>\n

*** ***
\nFor this particular analysis on TEZOS we are using the XTZUSDT symbol on the Phemex exchange.
\n*** ***<\/strong><\/p>\n

The idea is on the 1D time-frame where Tezos is shown trading within a Channel Down on the log scale. It has been trading below the 1D MA50 (blue trend-line) since April 07 and despite the May 12 rebound on the Lower Lows trend-line of the Channel, the price still got rejected on the 0.236 Fibonacci retracement level. Those Fibonacci levels have acted as Support\/ Resistance levels since the October 2021 High, so this rejection keeps the trend bearish.<\/p>\n

Practically, with the price action below the 1D MA50 resembling the sequence of November – mid December 2021, we can claim that only a 1D candle closing above the 1D MA100 (green trend-line) would reverse this bearish trend. That however happened in late March and still Tezos failed to establish a bullish reversal, so it is much safer to wait until the 1D MA200 (orange trend-line) breaks before calling a new Bull Cycle. Until then, it is more likely for the price to keep making Lower Lows.<\/p>\n

Tradingview link:<\/p>\n

https:\/\/www.tradingview.com\/chart\/XTZUSDT\/j8Lq6HWW-XTZUSDT-Still-bearish-unless-the-1D-MA200-breaks<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  *** *** For this particular analysis on TEZOS we are using the XTZUSDT symbol on the Phemex exchange. *** *** The idea is on the 1D time-frame where Tezos is shown trading within a Channel Down on the log scale. It has been trading below the 1D MA50 (blue trend-line) since April 07 and<\/p>\n","protected":false},"author":611,"featured_media":12021,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1636],"tags":[],"class_list":["post-12020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=12020"}],"version-history":[{"count":2,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12020\/revisions"}],"predecessor-version":[{"id":12023,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12020\/revisions\/12023"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/12021"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=12020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=12020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=12020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}