XTZ in falling wedge formation
Updated
hello guys hope you doing well
in my previous analysis i said we are back to breakout zone and this zone can act as support but in the updates I said price action near this support is bearish and we can break this area that happend yesterday price is in a short term downtrend and it is printing lower lows and lower highs but it is forming a falling wedge that 70% of times this formations breaks to the upside.
next green trendline is so important so if we breakdown wedge formation it would be huge bearish but if we break this formation to the upside it can easily rise back above 4$
personaly I am more bearish than bullish because of bitcoin if bitcoin breaks 11000, XTZ can breakdown and dump hard after it.
keep this coin in your watchlist
in my previous analysis i said we are back to breakout zone and this zone can act as support but in the updates I said price action near this support is bearish and we can break this area that happend yesterday price is in a short term downtrend and it is printing lower lows and lower highs but it is forming a falling wedge that 70% of times this formations breaks to the upside.
next green trendline is so important so if we breakdown wedge formation it would be huge bearish but if we break this formation to the upside it can easily rise back above 4$
personaly I am more bearish than bullish because of bitcoin if bitcoin breaks 11000, XTZ can breakdown and dump hard after it.
keep this coin in your watchlist
Comment
I was right about bearish view bitcoin breaks the neckline of head and shoulder formation and all crypto is dumping
Comment
XTZ is also dumping and it is breaking trendline from march i think it can reach 2-2.2$ areaComment
XTZ/USDT looks bearish near important support no sign of buying in volume here is 4H look
here is 1D look
if we break down this support XTZ can drop to 1.8$ area
Comment
this is 1D look of XTZ/BTC pair it broke down important support and it is dropping
in my opinion all ALT/BTC pairs look bearish
Trade closed: target reached
price reached 2.2$ target but whats next ?I will update in a separate analysis
but the main trend is down and chart is looking very bad
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