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Tezos (XTZ) has pushed to great highs, but ALTS are now seeming to pump and retreat in phases (opposite BTC)

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INCOME Synergy Fund
@ecoinstats
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We stand in awe as the market we have lived so long through, Crypto Winter, has practically dried up over night. For the last weeks, the froth of new Crypto Spring meltwaters has rushed through our markets, our wallets and our brains, exciting us, thrilling us, showing us green all over the place, before retracing, consolidating and contemplating another run.

We are not trading at all like we were a few months ago. We are experimenting with some levers available to us, and observing happily as our active portfolio thrusts up and down and sideways.

XTZ/BTC, 1 month

Here is Tezos, an exciting token that survived the cryptowinter and is now drawing attention to itself again. Here is a brief excpert of 'How Tezos is Different' From Investopedia:

As with Link/ETH, discussed a few days back, we are independed of the XTZ's USD price on this trade. Ideally, the market prices of XTZ and BTC will seesaw (teeter-totter) back and forth along the range we have marked. As the price of BTC relative to XTZ increases, as it is doing now, we ease back into the XTZ tokens. As their price rises with respect to BTC, we sell them for BTC again, and as long as the ratio doesn't diverge from our range for long, we continue to ride up and down.

XTZ/BTC, 1 day

In any given day, the price movements could yield great results, or they can stagnate. One of our favorite tokens right now, XLM/BTC has been in boring land for more than a week. The grid trader can capture a few cents here and there, if they bread the grids, but it can't do much if the price trends sideways between grids.

What sort of action are we looking for? Long Wicks. Notice in the image above, before 11pm UTC on the 13th of August somebody appears to be buying up XTZ for BTC. The multiple wicks reveal that this person is accumulating above market price, but instead of driving up the price with a single enormous wick, looks like they buy in several times over the hour to keep their price slippage low.

Our bot is waiting on each and every wick, ready to earn satoshis for fielding volume into the market at different prices. And this week, XTZ has been our champion.

None of this is advice, its just History. Do your own Due Diligence.

Posted Using LeoFinance