XTZ / Bitcoin

XTZ: A correction is definitely needed to meet further new highs

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It looks that Tezos is not going to stop, as its rate today has increased by more than 10% in correlation to the main cryptocurrency. Taking into account the technical analysis, the asset is definitely overbought, which confirms the RSI indicator.

Moreover, the XABCD pattern shows an upcoming correction and a roll back to the 18k satoshi level. Thus, the break of the 20k satoshi zone will confirm the formation of bearish movements.

Penafian

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