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#Post#: 462--------------------------------------------------
XTZUSD -1D
By: coinchase Date: October 16, 2019, 3:34 pm
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#XTZUSD, 1D, update
▫️ Remember this chart?
[img width=400 height=197]
HTML https://i.imgur.com/TYXzTgB.png[/img]
No problem if you don't because we're updating the Tezos market
too. This one is even older than LINK: its last update was given
on the 7th of August. At that time, the price was flirting with
the highest macro-level of resistance: $1.46; after its false
break-up, XTZ/USD began a long period of correction, failing to
transform its former resistance ($1.32) into support. A strong
rejection has occurred around that level (right under the
red-pointed arrow), one that gave buyers a headache of -45%.
▫️ $1.1, the upper red level of support acted
properly when the price came to give its first test. That lasted
for 12 days. After that, buyers gave up protecting this
horizontal so sellers took advantage: they pushed the price to
the last level of support - $0.85. This one is really important.
So important that it was respected by the market when it came
back to give it a retest after 70 days. If this level of
interest is lost by the bulls and gets turned into resistance -
then we may expect a continuation to the downside. $0.70's could
come in if that happens, but they're not reliable levels.
[img width=400 height=196]
HTML https://i.imgur.com/qhyTpUJ.png[/img]
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