The exchanges love Tezos, Chainlink fans love Tezos, the bulls love Tezos, FA is bullish, and TA is bullish. With staking and transactions up, and with price continuing up too, what choice do we have but to show some love to the XTZ bulls with our own long setup.
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1. Fractal Trend is showing an uptrend (Navy bar color) on the 4 hour timeframe. This is indicative of the long term bullish price action on XTZ.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Navy line color) and/or bullish S/R levels plotted by Directional Bias (Navy line color).
3. Right now we are looking for a long entry off the S1 S/R flip + orderblock cluster which we expect to act as support if the uptrend is to continue short term.
4. Our stoploss is placed just below that level.
5. Our target is the R1 bearish orderblock formed by the highs of the previous price structure.
The trade here is straightforward, buy the next available support and long until the next notable resistance with a setup that gives us a nice R:R.