Tezos trading cryptocurrency market update for Jun 7, 2019
Jun 10, 2019 --- Altcoins
Despite the strong bounce off of the new regional lows yesterday the weekly chart is still painting red signals on broken market structure while strong dynamic resistance continues to build overhead, so the bulls are going to have to do better than that to get the market out of this downtrend. Also note that the EMA's continue to accelerate to the downside and the volume indications remain atrocious, however support is quite strong between 0.000xx - 0.000xx and momentum is close to fully recharged so we think this market is close to bottoming even if there is one more leg down into the heart of the OTE long zone and upper demand area.
Short term Members ProTrade - We will consider a small LONG position on a retracement back down to the 0.000xx - 0.000xx area with a stop around 0.000xx and a target of 0.000xx.
Medium term Members ProTrade - We will consider a LONG position on a selloff down to the 0.000xx - 0.000xx area with a stop around 0.000xx and a target of 0.0xx.
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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