XTZBTC | Do you have a fork? Yes, a Pitchfork!Analyses of the large timeframe scales reveals a formation of ABCD basis at XTZBTC position. Pattern started on 16th of February and finished on 5th of March which is displayed at the chart.
This is a very important and interesting moment because subsequent price action went in a traditional three drives pattern. Thus a descending channel with strong support and resistance levels was formed
The support trend line helped Tezos to survive Bitcoin market crash but further the complete pattern was accurately finished on 14th of March. As always three drives forms a Pitchfork which in this case is based on continuation ABCD pattern
Price action takes place right at the bottom of it and according to consolidation|distribution pattern finished accumulation and is ready for a growth right to the upward edge of the Pitchfork channel
There is no fundamental basis for Tezos to break Pitchfork thus our final target will be the upper edge of the pattern, further we expect a decrease
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