XTZ signals imminent pivot

11 thg 3, 2021

Looking at pitchfork on XTZ, price is trending downward and nearing pitchfork support. RSI is sub-35 and indicates bullish divergence which should confirm a reversal.

11 thg 3, 2021

Ghi chú

Update:
Price broke below first support. Next support is fib just below the pitchfork. Let's see how this holds up.

11 thg 3, 2021

Ghi chú

Well, we got 6% bounce off of the fib. Let's see if there's continuation.

13 thg 3, 2021

Ghi chú

XTZ still hasn't broken upward, but supports as noted above and in comments below seem to be holding true. High volume profile at $3.80 provided strong support to produce a decent bounce back toward lower bound of pitchfork. If it continues upward back into pitchfork we may still reach my targets as noted.

Zooming out on 6h also shows we're still in a larger triangle pattern. This could potentially consolidate further into the triangle and settle around $4.05 until making a meaningful move.