Tezos (XTZ) trading cryptocurrency market update for Jun 13, 2019
Jun 15, 2019 --- Altcoins
Tezos v’s Bitcoin has plummeted back down below the 0.00015 level which means that the MT ProTrade setup is now active, although we're not at all confident in a profitable outcome considering that SCMR is printing another large red SCMR signal on a very bearish candle formation that is close to confirming bearish market structure once again so we're keeping a very tight leash on the trade over the weekend. We can also see that the EMA's continue to accelerate to the downside, new dynamic resistance has emerged around 0.0xx in addition to the still active levels above there, and the volume indications remain under pressure, all pointing to lower prices moving forward. That said, price is re-entering an area of strong support so we still think a longer-term buying opportunity is approaching in the not too distant future.
Short term Members ProTrade - No new ProTrade ideas at this time.
Medium term Members ProTrade - We have activated a small LONG position off of the 0.000147 level with a stop just below 0.000xxx and a target of 0.000xx.
Long term Members ProTrade We will consider a LONG position on a move down to the 0.000xx - 0.000xx area with a stop around 0.000xx and a target of 0.000xx.
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