XTZ Breaking Out! Bullish Momentum Building 🚀
💎 XTZ has recently broken out of a resistive trendline and formed an inverse head and shoulders pattern, accompanied by CHoCH and BOS signals, indicating a shift towards a bullish market structure. These developments increase the probability of a bullish move for XTZ.
💎If XTZUSDT manages to break above the neckline and resistant levels of the inverse head and shoulders pattern, we can anticipate further upward movement towards the next resistant levels. In the event of a pullback, we can anticipate a bounce from the bullish OB area. However, it's important to confirm such moves with bullish candlestick patterns.
💎On the other hand, if the price breaks down below the bullish OB level, it would be considered bearish. In such a scenario, it would be prudent to wait for better price action confirmation before making any trading decisions.
💎If XTZUSDT manages to break above the neckline and resistant levels of the inverse head and shoulders pattern, we can anticipate further upward movement towards the next resistant levels. In the event of a pullback, we can anticipate a bounce from the bullish OB area. However, it's important to confirm such moves with bullish candlestick patterns.
💎On the other hand, if the price breaks down below the bullish OB level, it would be considered bearish. In such a scenario, it would be prudent to wait for better price action confirmation before making any trading decisions.
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