XTZ Tezos Crypto Price News Today – Technical Analysis Update, This is Happening Now!
I think a lot of people want an update video. I did one before the breakout actually happened made you aware that a breakout is imminent, that we could break out at any time from that ascent. No, not ascending triangle, but from that um symmetrical triangle formation that we put onto the chart in the last video, the last video we were here, i i said we could actually come down once more because we were trading in this range here, but it was a Clear breakout formation and yeah, i said it at some point. The breakout will happen out of that formation. I gave you the price targets for both scenarios up and down and as we broke out to the upside i said you know. The next price target that you can expect is eight dollars. There will be some resistance and there was some resistance and you can see that when we go into the lower term time frame um but um also, we have now broken out today out of the was it today yeah today out of the cup and handle shape. So i did say in the video i dont really see a clear handle really, but it is certainly that formation that we formed or a very similar formation, that we formed um on the koti chart as well. And if you remember my videos on koti, we um predicted that breakout on this channel as well, because that was an even more clearly defined cup and handled.
We exactly broke out when we hit that ascending trend line here and also at the time the target level played out perfectly, and this is what im going to show you now, so we can at least get an idea of where we might be heading. So what we did back then, with koti, we had the same formation. You can see how these charts are so similar um. This again this is tezos. This is koti its its really its nearly identical. Well, not clearly identical, but its very, very similar. So, on the kodi chart here we took the depth of the cup. That is normally what you do and you add it to the breakout point. You dont add it normally to this um to the neckline. You add it to the breakout point of the handle, and here what we could see at that target level was exactly hit. I gave you the targets at the time around 65 66. I need to go below um dollars and we we came up all the way to that level. So at the moment, its still early days on teslas, i think after the break out. So you know it is still. I think a good, no, no financial advice here, but um. It could still be a good good time to get in if we see a re test here and were going to take a look at the shorter term timeframe to see if it might be a good opportunity to get in, but again no financial advice, its all That on your own risk, i only make you aware of these opportunities, and i made you aware before we broke out um of this triangle, so you could have got in there already, especially after the retest, so you already lost some.
If you didnt get in, you know, i i can only make you aware of these opportunities and – and we make sense of the charts here, but lets take the depth of that cup here and by the way. This is nothing about fundamentals. I only talk about the technical side here, so if you want to inform yourself about the fundamental side of tesos before anything happens, that would be advisable as well so anyway, here we are. That would be the target, because that is similar to cody. The breakout point that is where we came out, you know you could argue yeah. Maybe we should add it here but lets edit here. That is where koti started to break out. That is where the target hit with kodi as well. If we just do it in the same way – and that was very accurate, so that would give us a price target of eleven dollars. It would give us a price tag of eleven dollars and let us just um, maybe even a little bit higher, but i would go with eleven and bear in mind. Weve got a ten dollar along the way, which might be a resistance as well. So were not too far away from that ten dollars is just a psychological mark and lets add the fibonacci extension levels onto the chart just to see, and that would give us the range you know its certainly between nine point, seven and eleven point seven right.
So the ten dollars that i just gave you are in the middle of that are just between that. These are the fibonacci extension levels, the 1.28 to 1.272, certainly the first one at 9.69. I think personally, that is probably where well find the first resistance, because that is the first fibonacci extension level, the first main one that you have on the chart here also its quite close to the 10. So i think we might get to 10, but we might already stop at 970 and then, if we break the 10 um, we will get to the 1176. That is the next 1.618 fibonacci extension level, and you know: do we get to the 14 im, not sure you normally dont? You know, i would say, with cody we didnt yeah goldie. We stopped here um, so it is just something to be aware of. These. Are the targets based on the fibonacci extension levels and um? I think it would still possibly be a good time to get in, but again not financial advice, because still early um lets take a look at the earlier and by the way you have to expect a retracement at some point now, because on the daily here we Are also um over, you know, were getting into the overbought range now again, but we clearly broke out so thats very crucial. We even broke above the most recent high. That is important as well. We made a bullish cross on the macd and i think the adx will soon go into the trend as well again, its currently still sitting in a range market, the adx line.
But we made a bullish cross on the directional movement index lines so thats positive and on the hourly here. What we can see, that is the resistance at eight dollars that we talked about. So we found resistance at the eight dollar line that i mentioned in the previous video. First of all, when we broke out of that triangle, we saw a retest very nicely very accurately, a retest of that line broke out of that eight dollar line yeah we well. We found resistance there coiled up and then pushed further up, so there will be some um further setback very soon, possibly now, because you can see that were coming out again out of the um on the short term. Timeframes were now in the overbought range, so you know personally, i would wait for another retracement now and then it might be a chance to get in right. You know because now youre just buying into an over uh overbought market in the short term but um and were in the overbought range. I would wait, you know you did it here as well. You know we werent overboard and you came down again in that in that retracement here and um. We did it again here. Yeah we went to overbought came back into a retracement, so um there might be a bit of a little bit of stronger retracement coming now, but certainly you know we broke out of that. What is, of course, important also to see depending on which time frame youre trading in but um, you know, do we see maybe on the four hour chart as well? Do we see on the four hour um, maybe another re test, or so in the four hour? I mean on the four hour, were in the over x and were in the overbought range now as well.
So i expect a retracement now um another retracement after that, most recent pump and possibly that could be used to get into the market again no financial advice, but you know the indicators are looking good. You know weve been making bullish crosses here and there everywhere buy signals, weve seen a really strong chart. I did mention in the last video that we were still in an uptrend, even though most of the other cryptos were in the consolidation phase, with a tron can trend continuation pattern here so its nice to see you know, and if you, if you want to see Further of these videos about tezos, please subscribe, like the video and with um on this channel weve identified a few cryptos, which you know were just before the breakout we we mentioned it um that we werent that breakout pattern, and these are always good opportunities to then Closely observe and watch, and when you see the breakout, then its normally a good time to get in sometimes wait for re test, which we saw here um but yeah. That would have been a great that would have been a great time to get in after the retest. What i always mention or regularly mention you know you break out of that pattern. You see a retest and then you can go up and if you see want to see more information about how to do that, you can check out my second channel link in the description on which i teach technical analysis um, but yeah there you go thats another Crypto that broke out to the upside um very interesting, very well defined, and currently we seem to be in a little bit of a retracement.
I think we have to see one because we are very overbought on the shorter term time frames now on the one minute chart thats a bit too fast, but were going to the one hour chart again. You can see that that we get that push back, that i just mentioned that we possibly get a little bit of a retracement now and you can see that push that happened just in one hour, um, so yeah. We will see, probably in the next few hours again a little bit of a retracement here and maybe if we just take the fibonacci just from that most recent pump here where we got to looking at a possible retracement zones. You know we could possibly get that back to eight dollars now um in terms of retracement. That would not be unusual because the eight dollars that is pretty much or 8.10, that is where the 0.5 fibonacci retracement level sits and also that would be no 8010. No, i think, actually you might get the um might get back to the 0.382, which is 8 28, and that would be again its just a guess at the moment, but thats the level to watch, because that is the most recent um, the most recent high here. That we made so i wouldnt – i wouldnt – think so that we get below that. So that would certainly provide some strong support. Maybe we dont even get down that far so um yeah, you know wait for that retracement or maybe on the lower time frames, and then time you to get in you can see it here on the 30 minute chart already happening that retracement and i think we Could expect something to see like that, a little bit of a sideways move and maybe then a continuation to the upside? Its all, looking quite good at the moment, as i said, overheated on the short term time frame so now, even on the daily.
So a little bit of a retracement is expected now after that pump, but very importantly, is that we broke out of that range and um. That is important and good good potential good opportunity. But what is also worth saying is that the daily candle hasnt closed above that level. So, depending on your time frame – and you know when, when you try, you know in which time frames you are trading um, you, you would need to watch for a daily close above that or if you do day trading. Of course, you know thats why i cant really give recommendations, but certainly, i think, an opportunity um to get in depending on your strategy. So hopefully you liked the video.