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BLZBTC

BLZBTC - ABC wave 4 pattern playing out still.Man did you catch that 3rd wave on BLZ? I'd been watching this one for a while, but missed the bottom by a good 10%. Lucky for me, I caught it on the way up and still managed to pocket a 30% return. I love this coin! Anyways, it seems as though it's in a complicated wave 4 correction going on, having already gone through an ABC, then into an ascending triangle, that is now breaking downwards. Based on fib-ratios, treating the triangle as wave "B" of the overall ABC correction, I'm expecting BLZBTC to further retrace another leg, all the way down to the 0.000067 region. Fib ratios actually suggest it could go as low as 0.000063, but I highly doubt it'll go lower, as the purple line designates the top of Wave 1 territory. Shouldn't retrace past here unless I've made a counting error. Good one to watch over the next couple days (it'll likely take a bit of time before it goes flying). *IF* my wave 4 target is correct, my Wave 5 target is around 0.00009, give or take 5%. Wave 1 and 3 were very similar in length, so it seems likely this one will be of similar pump. Count rendered invalid if price confirms below 0.000067. Entry is somewhere between 0.000067 and 0.000071 Exit should be around 0.000087 to 0.000095. Good Luck!
Short
by RobinG
BLZ - 5 Waves complete, undergoing correctionLooks like BLZ had a really short 5th wave and I miscalled the top of BLZ by about 10%. The long wave 1 and 3, and unclear corrective pattern of wave 4 threw me off and left me thinking it was going to surge more than it did. So Cycle 1 is complete, and the A wave correction from the 3 primary waves up hit the 0.382 correction line before bouncing, so it's an easy assumption that wave C will go as low as 0.5 or 0.628. Given the timeline of of BLZ (1 month) for this cycle to play out, it's reasonable to assume that the correction cycle could take up to 18 days (61.8% relationship). Potential landing spots for the corrective cycle are around 0.00077 to 0.00071 on BLZETH, and 5045 to 4640 sats on BLZBTC. 4200 sats is possible but less likely. Maybe around May 8th? This is just a wild guess to see if I get it right. Please don't hold me accountable for this. ;-) This is a pretty exciting development - as if this is a complete Cycle 1, then we can expect Cycle 3 to push the price to a peak of 10,000 sats! (1.618 ratio to distance travelled over Cycle 1). But please don't buy now. Wait for at least a week. Probably longer. I also switched to using the BTC chart for this coin because the wave structure actually seems clearer than the ETH one.
Short
by RobinG
Bluzelle BottomA recent success for those who got in on the pre-sale and whitelist, we are beginning to see where the general interest in the project is met with a price that seems appropriate. The lull in volume has seen a recent increase and I believe presents an opportunity for traders to make some substantial gains from purchasing in the green (buy) zone and selling at the various red zones (levels of support now resistance). Before buying, I'd like to see it bounce once more from the green buy zone with a bit more volume.
Long
by BlockReconnaissance
BLZ - Bluzelle Big Bear Flag!Hello all! Welcome to my first technical analysis post on this platform. I wanted to share the descending triangle pattern formed for BLZ on the 1hour chart. As you can see the price is showing a lot of resistance to the down trend line in blue, forming lower peaks while maintaining the lower support level. On the 1 hour chart, BLZ symbol] has already crossed the support level shown by the pink line, signaling a confirmation of the pattern. A full realization of this pattern would drive the price as low as the the vertical height of the two trend lines, shown by the dotted red line. A full realization of a bearish pattern is unlikely due the fact that this just entered exchanges not long and is still fairly hot, and BTC currently on a bull run driving more cash into the market and alt coins. With that said however, I do see it possible for BLZ to drop at least half way, to a target price of 5k satoshi, shown by the pink arrow. Thanks for reading - I'll keep updating this as we gather more information in the coming days. Please remember to comment and follow if you liked this TA! Charlie
Short
by cpinto7
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