#xtz #tezos Bearish or Bullish, The question is that!
After rising for two days, a fall was more or less necessary to move up further and break through the strong resistance towards 2.18 USDT.
But is it going towards which path? bullish or bearish?
to answer this question it seems to us that it is better to look at the several possibilities.
1. There is a shark pattern between Nov 11 at 2 a.m. until 4 a.m. on Nov 18. suddenly point D of this pattern has given us a bearish movement.
2. there is probably a Wolfe wave, so if this wave is started from point 1, the next move will be bearish and it will reach the area (target 3). if so, then RSI is showing us that the current price is quite low and depending on these indications there might be support.
3.There is probably another Wolfe wave that maybe started from point C, and if so, the next move will be bullish and there will be two stages for TP which is marked as (Target 1) and (Target 2).
to summarize we can say that it is probably a bullish movement that will be chosen.
But is it going towards which path? bullish or bearish?
to answer this question it seems to us that it is better to look at the several possibilities.
1. There is a shark pattern between Nov 11 at 2 a.m. until 4 a.m. on Nov 18. suddenly point D of this pattern has given us a bearish movement.
2. there is probably a Wolfe wave, so if this wave is started from point 1, the next move will be bearish and it will reach the area (target 3). if so, then RSI is showing us that the current price is quite low and depending on these indications there might be support.
3.There is probably another Wolfe wave that maybe started from point C, and if so, the next move will be bullish and there will be two stages for TP which is marked as (Target 1) and (Target 2).
to summarize we can say that it is probably a bullish movement that will be chosen.
