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Bluzelle / Bitcoin

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BLZBTC trade ideas

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
2