If BTC gets a correction short term XTZ will likely form a nice Inverse H&S pattern. A invalidation of this pattern would be breaking above the neckline without a significant retracement(subjective so be careful) or breaking the low of our 'head.'
Not financial advice
Not financial advice
Nota
Nota
I'd say if we can break upward out of the small channel on the right we favor bullish, but the longer we remain inside of it the more likely we'll test $1.25, and that could be a poor ending for the bulls.
Nota
Looking like it's going to take longer as BTC had another false breakout. Might need to see BTC flush down towards $7,800 one more time?Nota
This setup is looking pretty weak right now. We held support at $1.25 for the moment but I wouldn't be surprised if we break it shortly. $1.2216 is the last stand support for the bulls, and if that breaks the flood gates could open to a large wick down. Only hope I can really see is BTC breaking up soon and XTZ gaining some momentum off of it moving. A rise above $1.35 would have me more interested in this again.Nota
Gaining some strength back. Looks like BTC decided to break up and took the market with it. I wanna see this break $1.35 still since it could just be a lower high into a lower low.Nota
$1.40 has finally broken with some strength behind it. I could see this back in the $1.55-$1.65 area fairly easily with how the market is launching alts. Watch for support breaks on BTC 1hr and 4hr for weakness. BTC going down is what would stop this from moving up.Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.