XTZ ANALYSIS: RISING CHANNEL IN PLAY!
XTZ ANALYSIS:
XTZ is pushing up on a strong upward channel. It is also closing in on the hourly resistance and seeing two red wicks pointing to a reversal of momentum. The volume has been semi-neutral, but ATR remains at lows. RSI topped out, and is looking to come back down to neutral territory. I expect a dump back to at least the bottom of channel at T1 of 1.44. Upon the break of channel, look for T2 at 1.35, and T3 at 1.26. Triple bottom support at the green box is where we flip to long position and look for the bounce, this zone being 1.00-1.20!
XTZ is pushing up on a strong upward channel. It is also closing in on the hourly resistance and seeing two red wicks pointing to a reversal of momentum. The volume has been semi-neutral, but ATR remains at lows. RSI topped out, and is looking to come back down to neutral territory. I expect a dump back to at least the bottom of channel at T1 of 1.44. Upon the break of channel, look for T2 at 1.35, and T3 at 1.26. Triple bottom support at the green box is where we flip to long position and look for the bounce, this zone being 1.00-1.20!
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